T
he Texas Permanent School Fund has invested $225m in real estate through two funds managed by Clarion Partners and BentallGreenOak (BGO). The sovereign wealth fund committed $125m to the open-ended Clarion Gables Multifamily Trust, which focuses on acquiring A and B quality multifamily assets. It also placed $100m into the value-add BentallGreenOak Asia IV fund.
The Clarion fund targets core-plus investments with a focus on select development transactions. The BentallGreenOak fund will invest in Asian properties, particularly in Japan, and employ light repositioning and improved management practices to enhance asset value. It will target a diverse range of property types, including office buildings, logistics facilities, residential properties, and hotels.
The investment details for the BentallGreenOak Asia IV fund are not publicly disclosed. Both Clarion Partners and BGO declined requests for comment on their respective investments with the Texas Permanent School Fund.
