EQT opens property fund as Texas Teachers approves $1bn of investments

EQT Real Estate has launched its second fund and has gained backing from Teacher Retirement System of Texas, which has signed off on close to $1bn (€867m) of real estate investments.

The real estate arm of Swedish private equity group EQT was launched in 2015 and raised its debut fund, EQT Real Estate I, in 2017.

Texas Teachers confirmed to IPE Real Assets that it is committing €100m to EQT Real Estate II and a further €150m in co-investment capital.

It is the first time that the $150bn pension fund has invested with EQT Real Estate, which was created in 2015 when the founders of UK property company Wainbridge joined EQT.

EQT declined a request for comment.

The investment with EQT is part of close to $1bn in real estate commitments recently approved by Texas Teachers.

The pension fund revealed it is investing $300m investment in Blackstone Real Estate Partners IX, the latest global opportunity fund to be launched by Blackstone, which is expected to raise as much as $20bn.

It also committed $250m to a US opportunistic fund managed by Principal Real Estate Investors, Principal Strategic Opportunity Fund III, and awarded $185m to Brookfield Asset Management to invest in core real estate in the US.

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