Teacher Retirement System (TRS) of Texas is investing $200m (€183.2m) in value-add US real estate through Davis Investment Ventures.

TRS of Texas told IPE Real Assets that it has added Davis Investment Ventures to its manager line-up by making a $100m commitment directly into the Davis Investment Ventures Fund V and placing an additional $100m into a co-investment sidecar to invest alongside Fund V.

According to sources Davis Investment Ventures is seeking to raise $950m for the fund, an amount surpassing the $777m the manager raised in September 2020 for the previous fund in the series.

Davis Investment Ventures, known for investing in both debt and equity-type transactions, has a strategy of buying existing assets and funding new development projects.

The manager targets properties like industrial, life science, traditional apartments, student housing and self-storage.

Davis Investment Ventures declined a request for comment.  

To read the latest IPE Real Assets magazine click here.

Topics