CalSTRS Forms New US Housing JV
PERE
By Evelyn Lee
The California State Teachers’ Retirement System has formed a joint venture with New York-based private equity real estate firm GTIS Partners to initially invest $204 million in homebuilding and residential lot development across the US. The alliance represents the first programmatic JV with an institutional investor for GTIS, which currently manages $4.1 billion in assets, primarily through discretionary funds and some co-investment vehicles.
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