Texas Permanent School Fund has made $225m (€208.8m) worth in real estate commitments by placing capital into a US multifamily fund managed by Clarion Partners and a BGO-managed Asia fund.
The sovereign wealth fund said it has made a $125m commitment to the open-ended Clarion Gables Multifamily Trust and placed $100m into the value-add BentallGreenOak Asia IV fund.
Clarion’s Multifamily Trust, a core-plus real estate investment fund, is known for acquiring assets classified as A and B quality. Additionally, the fund considers select development transactions. Clarion declined a requuest for comment.
Fundraising details for the BentallGreenOak Asia IV fund are currently unknown. The fund will focus on acquiring assets in Asia, with a particular emphasis on properties located in Japan.
The fund’s manager BGO will employ an approach that includes light repositioning and the implementation of improved management practices. The fund will target a diverse range of property types, including office buildings, logistics facilities, residential properties and hotels.
BGO did not respond to a request for comment.
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