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.
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.