Institution: Employees Retirement System of Texas
Headquarters: Austin, Unites States
AUM: $28.30bn
Allocation to alternatives: 24.32%
Bitesize: $50-100m
Employees Retirement System of Texas (ERS) has agreed to commit $55 million to Asana Partners Fund II and $125 million to True North Real Estate Fund IV, a contact at the pension informed PERE. Asana Partners’ fund focuses on value-add retail property, whereas True North’s fund is targeting opportunistic real estate across various sectors.
The $28.30 billion US public pension has a 9.0 percent target allocation to real estate that currently stands at 7.33 percent.
As illustrated in the charts below, ERS has made five commitments to real estate funds with a 2018 or 2019 vintage, which combined constitute $431 million.
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