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The Teacher Retirement System of Texas (TRS) has committed $450 million to real estate funds in July, according to correspondence materials.

TRS invested $300 million in Starwood Capital’s Starwood Distressed Opportunity Fund XIII Global, a closed-end, opportunistic fund with a fundraising goal of $1.5 billion. The fund targets diversified, distressed opportunities in the United States, Europe and Asia Pacific. In May, Tampa Employees Retirement Fund committed $15 million to the fund. The fund’s predecessor, Starwood Distressed Opportunity Fund XII, closed with $10.1 billion in equity, slightly over its initial $10 million fundraising target.

DivCore Fund VII, a vehicle of DivcoWest, received $75 million for its closed-end, value-added/opportunistic strategy targeting diversified properties in the United States. The fund aims to raise $10 billion. Massachusetts Pension Reserves Investment Board and the California State Teachers’ Retirement System have also committed to DivCore Fund VII. DivCore Fund VI, its predecessor, closed with $2.3 in capital commitments in 2020.