Teacher Retirement System (TRS) of Texas has disclosed approving a $150m (€134.7m) commitment to Blackstone’s seventh European opportunistic real estate fund.
As previously reported, Blackstone is seeking to raise around €10bn for Blackstone Real Estate Partners Europe (BREP) VII
BREP VII is expected to invest in assets that can produce a gross internal rate of returns of 15% to 20% as it targets mainly logistics, residential and leisure/hospitality properties.
TRS of Texas said it has also added Formentera Partners to its energy, real assets and infrastructure manager lineup by making a $100m commitment to the Formentera Partners Fund II.
This is the pension fund’s first commitment with Formentera Partners. This capital will be placed into oil and gas assets onshore in the US.
The pension fund has also committed $150m to the Macquarie Infrastructure Partners VI fund.
Fundraising details of the latest Macquarie Americas core and core-plus infrastructure fund are currently unknown. The manager raised $6.9bn for the previous fund in the series which closed in July 2021.
The fund series seeks to invest in high-quality infrastructure assets and will be primarily focused on the transportation, communications, waste management, utilities and energy sectors.
TRS of Texas also issued a $99m commitment to EnCap Agamar via the pension fund’s real assets, energy and infrastructure portfolio. This capital will be invested on an opportunistic basis in the US.
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