Texas Teacher Retirement System, Austin, committed a total of $250 million to two real estate funds in January, a transaction report for the $157.6 billion pension fund showed.
From the pension fund's $21.7 billion real estate portfolio, $150 million was committed to SCREP VII, an opportunistic property fund that will seek investments in international developed countries. The fund is managed by Asia specialist manager PAG.
TRS spokesman Robert Maxwell said PAG is a new relationship for the pension fund.
The pension fund's real estate investment team committed $100 million to Square Mile Partners VI-A, a companion fund to Square Mile Partners VI to which TRS committed $100 million in October. Both funds are managed by Square Mile Capital Partners and seek opportunistic properties in the U.S.
