From IPE: Teacher Retirement System of Texas has approved a €200m commitment to the Blackstone Real Estate Partners Europe III commingled fund.

It is understood officials believe Blackstone has a proven track record of investing capital in Europe, given the company had a presence in this market since 2001 and the real estate manager’s prior funds are on target to provide an investor-level aggregate IRR of 43.6% against an equity multiple of over 2x….. Full Article: Source