Texas Permanent School Fund (PSF) has approved a $75m (€68.8m) commitment to the TPG Real Estate Partners IV fund.
The commitment to the opportunistic fund was the only investment Texas PSF made into its real estate portfolio during the first quarter of 2022.
As previously reported, TPG Real Estate Partners is planning to raise $5.5bn for its fourth fund. The manager raised $3.7bn for is its third opportunity fund in March 2019.
The fund is expected to target a mixture of office, industrial, residential, senior housing, life science, hospitality, student housing, retail and self-storage assets across North America and Europe.
All of the investments for the fund are projected to have a four-to six-year holding period.
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