Institution: Employees Retirement System of Texas
Headquarters: Austin, United States
AUM: $28.67bn
Allocation to alternatives: 24.47%
Bitesize: $50-100m
Employees Retirement System of Texas has confirmed $225 million-worth of private real estate commitments across three vehicles, a contact at the pension informed PERE.
Wheelock Street Capital has received $150 million in commitments from ERS Texas, with $100 million directed to the firm’s Long Term Value Fund and $50 million to the manager’s sixth flagship series real estate fund. A further $75 million has been committed to Secured Capital Real Estate Partners VII.
The $28.67 billion US public pension has a 9.0 percent target allocation to real estate which currently stands at 7.56 percent.
As illustrated below, ERS Texas has made nine commitments to real estate vehicles with a 2019 vintage, which combined constitute $600 million.
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