Institution: Teacher Retirement System of Texas
Headquarters: Austin, United States
Allocation to alternatives: 31.10%
Teacher Retirement System of Texas (TRS) has agreed to commit $379.62 million to Banner Oak Industrial Development Venture II, a contact at the pension informed PERE. The North American fund invests opportunistically in industrial property.
The $153.13 billion US public pension has a 14.0 percent target allocation to real estate that currently stands at 12.0 percent.
As illustrated in the charts below, TRS has committed to nine real estate funds with a 2019 vintage, that combined constitute $1.97 billion.
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