Pension fund also commits capital to Lionstone and Square Mile vehicles. : Teacher Retirement System of Texas (TRS) committed $467m (€415m) of capital to real estate strategies last month, more than half of which went to a new value-add real estate fund run by Equity International. The pension fund confirmed to IPE Real Assets that it had committed $250m to River Washington, which it said was a value-add investment. The company, chaired by billionaire Sam Zell, is known for making entity-level investments in real estate operating companies.