Texas Teacher Retirement System, Austin, committed a total of $232 million to three U.S. real estate funds run by existing managers in July, a transaction report from the $152.2 billion fund showed.
The largest commitment was $160 million to Square Mile Media Co-Investment, managed by Square Mile Capital Management.
Robert Maxwell, a fund spokesman, said TRS is investing in the fund alongside other limited partners, in an email.
The latest co-investment from the defined benefit plan is its third co-investment commitment this year to Square Mile Capital for a total of $410 million.
In February, TRS committed $150 million to Square Mile TVC Co-Investment and in March, earmarked $100 million to Square Mile OCS Co-Investment.
The fund's real estate investment team also committed $50 million to Pennybacker V, managed by Pennybacker Capital. The fund's portfolio managers will seek investment opportunities in affordable multifamily, senior, age-restricted multifamily properties as well as retail, office and industrial assets in sustainable U.S. growth markets.
TRS' final commitment to private market strategies last month was $22 million to Greystar TT Barton Springs, a co-investment managed by Greystar Real Estate Partners.
Mr. Maxwell said in his email that the teachers' fund previously invested in a single-limited-partner fund with Greystar. According to an earlier transaction report, TRS committed $200 million to a co-investment focused on U.S. opportunistic real estate in August of 2017.
