The Teacher Retirement System of Texas has approved $100m (€72.1m) worth of real estate commitments for the month of February.
These investments were $50m each into the Westbrook Real Estate Fund IX Sidecar and the Artemis Real Estate Partners Fund II.
The Westbrook Sidecar will be making investments along with transactions completed by Westbrook Real Estate Fund IX.
This is a $1.6bn opportunistic commingled fund managed by Westbrook Real Estate Partners.
Texas Teachers made a $150m commitment into this fund directly.
This fund makes distressed equity and debt investments in real estate, considering deals in major markets in both the US and Europe.
The commitment to the Artemis Fund II has been placed into the pension fund’s emerging manager programme.
Artemis is still raising capital for the commingled fund, which invests only in the US.
The fund will consider several strategies, including opportunistic, value-added and enhanced core.
The property types considered will include apartments, office, industrial, retail and senior housing.
In other news, the Alabama Trust Fund Board has approved a commitment of approximately $80m into the UBS Trumbull Property Fund.
The board approved a new real estate target of 9% in a recent asset allocation study. The current target is 5%.
The current entry queue for the UBS Fund is approximately 12-18 months.
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