Teacher Retirement System of Texas is committing $150m (€127m) to an open-ended, core-plus real estate fund managed by .
The pension fund confirmed to Â鶹ӳ» Real Estate that it had approved the commitment to the Invesco US Income Fund, a vehicle that was formed in 2013.
The fund invests in office, industrial, retail and residential real estate in major US markets, and seeks to outperform the NCREIF-ODCE Index by 250bps.
It is the second time that Texas Teachers has placed capital into a core fund managed by Invesco. It also made a $210m commitment to the Invesco San Jacinto Core Fund.
The pension fund has previously invested in open-ended core funds run by managers that include , JP Morgan Asset Management, , Investment Management, and Morgan Stanley Real Estate.
