ERS Texas approves $55m commitment

The US public pension has backed a North American real estate fund.

Institution: Employees Retirement System of Texas
Headquarters: Austin, US
AUM: $28.30 billion
Allocation to alternatives: 30.0%

Employees Retirement System of Texas has agreed to commit $55 million to Meridian Realty Partners IV, a contact at the pension informed PERE.

The $28.30 billion US public pension has a 12 percent target allocation to real estate which currently stands at 11 percent.

As illustrated below, the pension fund’s recent commitments are to funds focused on the retail and residential sectors within the North America region.

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