TCDRS approves $150m commitment to Oak Street Real Estate Capital Fund V

The US public pension has backed Oak Street Real Estate Capital's fifth series value-add vehicle.

Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $32.11bn
Allocation to alternatives: 39.31%
Bitesize: $100-200m

Texas County and District Retirement System has committed $150 million to Oak Street Real Estate Capital Fund V, according to the pension’s February investment report. The value-add vehicle focuses on investments in retail, industrial, office and residential property.

The $32.11 billion US public pension has a 6.0 percent target allocation to private real estate that currently stands at 2.71 percent.

As illustrated below, TCDRS has made seven commitments to 2019-vintage private real estate vehicles, which combined constitute $891.95 million.

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