Texas Teachers invests $250m in Equity International real estate strategy

Teacher Retirement System of Texas (TRS) committed $467m (€415m) of capital to real estate strategies last month, more than half of which went to a new value-add real estate fund run by Equity International.

The pension fund confirmed to IPE Real Assets that it had committed $250m to River Washington, which it said was a value-add investment.

Equity International did not respond to a request for comment.

The company, chaired by billionaire Sam Zell, is known for making entity-level investments in real estate operating companies.

TRS also committed $117m to Houston BBP, an investment entity managed by Lionstone Partners that will invest opportunistically in the US.

Lionstone declined a request for comment.

The pension fund also committed $100m to co-investments with Square Mile Capital Management.

TRS made a number of commitments to Square Mile funds last year.

Square Mile did not reply to a request for comment.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2543

    Asset class: Search of an Asset manager / Advisor managing / Advising a risk-based equity derivatives overlay program.
    Asset region: Global Developed Markets Equities, Global Emerging Markets Equities, Swiss Equities.
    Size: CHF 700-2100 million.
    Closing date: 2019-06-17.

  • QN-2544

    Asset class: Transitional Real Estate Debt.
    Asset region: North America (USA/Canada).
    Size: $50-100mn.
    Closing date: 2019-06-17.

  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

Begin Your Search Now