Texas Teachers creates $500m real estate investment fund with AEW [corrected]
Teacher Retirement System of Texas (TRS) has approved a $500m (€441.8m) commitment into a newly created global real estate investment vehicle with AEW.
The $153bn pension fund said the commitment, approved last month, into the AEW Global Investment Fund T fund will target a variety of value-add properties.
The manager AEW Capital Management declined a request for comment.
TRS said it has also approved a $300m commitment into Blackstone Real Estate Partners Europe VI, an opportunistic fund close to raising $10bn.
The pension fund told IPE Real Assets that it approved a $200m co-investment into the Front Range Holdings I mobile and internet infrastructure fund.
An earlier version of this story incorrectly referred to Front Range Holdings I as a Digital Colony fund.