Teacher Retirement System of Texas has established a $400m (€388m) separate account to co-invest alongside real estate funds managed by Blue Owl Capital.
Blue Owl manages a series of net-lease real estate funds in the US and last year established a real estate debt business by acquiring Prima Capital Advisors.
According to a summary of new commitments approved by Texas Teachers in December 2024, Blue Owl will not have investment discretion on the separate account.
Texas Teachers also revealed that it had committed $75m to the Two Sigma Real Estate Opportunity Fund and $130m AEW Transferred Asset Program
Two Sigma Real Estate and AEW Capital Management declined to comment.
Texas Teachers has also hired infrastructure fund manager Northampton Capital Partners for the first time.
The pension fund approved two $150m commitments to Northampton Capital Partners and SP Nexus Holdings to be invested in US value-add infrastructure.
To read the latest IPE Real Assets magazine click here.
