TCDRS approves $100m commitment

The US pension fund has backed Singerman Real Estate's fourth opportunistic real estate vehicle.

Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $35.7 billion
Allocation to alternatives: 46.4%

Texas County and District Retirement System has approved a $100 million commitment to SRE Opportunity Fund IV, according to a recent investment activity report on the pension’s website.

Singerman Real Estate is currently in market seeking $700 million in LP capital for its fourth opportunistic vehicle. The fund’s immediate predecessor held a final close on $500 million in December 2017, $100 million above its target.

TCDRS has a 6 percent target allocation to private real estate which currently stands at 3.1 percent.

As illustrated below, the $35.7 billion pension fund’s recent private real estate commitments have predominantly targeted North American and European opportunistic vehicles.

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