Teacher Retirement System of Texas has created a $350m (€300.1m) real estate separate account with Cerberus Capital Management.
Texas Teachers disclosed in its December 2025 filings that the Cerberus Proper Partners separate account is dedicated to US special situation assets, without providing further details regarding the strategy.
Cerberus did not respond to a request for comment.
Texas Teachers also made a $200m commitment to Carlyle Global Infrastructure Opportunity Fund II.
According to sources, Carlyle is seeking to raise $3bn for the fund that invests in infrastructure assets in OECD countries.
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