Texas pension commits $1bn to commercial real estate

Teacher Retirement System of Texas has reportedly approved more than $1bn of new commitments to commercial real estate vehicles investing in value-add and other opportunistic strategies, including distressed loans. TexasThe pension is investing $300m each into Blackstone Real Estate Partners VIII and a fund managed by Lone Star Funds; $270m to Akard Street Industrial; and $200m to Brookfield Strategic Real Estate Partners II.