Teacher Retirement System of Texas has formed a $600m (€493.4m) global real estate investment separate account with Invesco.

The $160bn pension fund told IPE Real Assets that the Invesco Real Estate GPA separate account relationship has been created to target “high-return real estate opportunities on a global basis”.

Invesco did not respond to a request for comment.

Texas Teachers said it also approved a $200m commitment to the Madison International Prime Property Investor Series II fund last month.

Madison International Realty, the manager of the core US property fund, did not respond to a request for comment.

The predecessor Prime Property Investor Series I fund, which was formed in 2018, had a strategy of buying stakes in office, retail, industrial and residential assets located in gateway markets and 24-hour cities.

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