TPSF Commits More to Opportunistic European Real Estate

The US$ 25.9 billion Texas Permanent School Fund (TPSF) based in Austin, Texas, is committing to increased exposure to opportunistic European real estate. This is the sovereign fund’s second commitment to opportunistic European real estate in 2012. These opportunistic funds tend to invest by inserting capital and providing active management in distressed situations.

The goal is to transform distressed assets into core assets in markets like the United Kingdom, France, Germany, and other select European countries. Institutional real estate makes up 6% of TPSF’s investment portfolio with total commitments adding to US$ 927 million.

2012 Opportunistic European real estate funds recently invested include:

  • €57.8 million – AREA European Real Estate Fund IV
  • US$ 40 million – NIAM Nordic V

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