Texas Municipal Retirement System (TMRS) has approved a $200m (€185.8m) commitment each to real estate debt funds managed by Invesco Real Estate and TPG Real Estate.
The pension fund disclosed in a meeting document that it has placed the capital into Invesco Commercial Real Estate Finance Trust (INCREF) and TPG Real Estate Credit Opportunities funds.
Invesco Real Estate states on its website that INCREF – which mainly invests in North America – is a perpetual life real estate investment trust that originates, acquires, and manages a diversified portfolio of loans and debt-like preferred equity interests secured by, or unsecured but related to, commercial real estate.
Invesco Real Estate did not respond to a request for comment.
TPG Real Estate raised an initial $750m in the latter last year. TPG Real Estate declined a request for comment.
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