Teacher Retirement System of Texas has issued $400m (€341.2m) worth of new real estate commitments.
The $209.5bn pension fund said it made its first-ever commitment to Havenpark Management by placing $250m into the manager’s Mustang MHC Properties, and committed $150m to co-invest alongside DivCore Fund VII, a value-add US real estate fund managed by DivcoWest.
Havenpark, a national owner and operator of manufactured housing communities across the US, did not respond to a request for comment.
The pension fund expects its capital in the Havenpark relationship to be invested in a diversified group of core assets.
The other real estate commitment was for $150m as a co-investment to invest alongside the DivCore Fund VII.
Texas Teachers approved a $75m commitment to DivCore Fund VII in July. The fund is seeking to raise $1.5bn to invest in office, industrial, residential and data centre assets.
Texas Teachers also added to its infrastructure, energy and natural resources portfolio with three new commitments.
The pension fund committed $75m to the Rio Toro partnership with Riverbend Energy Group; made a $25m co-investment alongside Ancala Fund III, which raised €1.4bn at its close and invests in a mixture of renewable energy, energy transition, transport, utilities, and the circular economy; and committed $24.4m to the PCIP I ML Coinvest with Pennybacker Capital Management.
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