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ERS Texas approves $190m in commitments

The US public pension has backed two value-add real estate funds.

Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $29.40bn
Allocation to alternatives: 28.45%
Bitesize: $50-100m

Employees Retirement System of Texas has confirmed $190 million-worth of real estate commitments to two vehicles, a contact at the pension informed PERE.

The commitments comprise of $125 million to Abacus Multi-Family Partners V and $65 million to DRA Growth and Income Fund X. Both value-add funds will be investing in North America.

The $29.40 billion US public pension has a 9.0 percent target allocation to real estate that currently stands at 10.80 percent.

As illustrated below, TCDRS has made 11 commitments to real estate funds with a 2019 vintage, which combined constitute $790 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.