Teacher Retirement System of Texas has approved $250m (€228.3m) worth of commitments to Square Mile Capital Management and PAG managed opportunistic real estate funds.
The pension fund said it is committing $100m and $150m respectively to Square Mile Partners VI and PAG Secured Capital Real Estate Partners VII.
The Square Mile fund, which targets a variety of US property types, intends to issuing both mezzanine and bridge financing on assets as well as buying some distressed debt.
Square Mile declined a request for comment.
The PAG fund, which is reportedly seeking a $2bn fundraise, targets international developed markets in Asia by investing capital in a mixture of buying properties and distressed debt.
