Institution: Texas County and District Retirement System
Headquarters: Austin, United States
AUM: $29.16bn
Allocation to alternatives: 34.67%
Bitesize: $50-100m
Texas County and District Retirement System (TCDRS) has agreed to commit an additional $25 million to KSL Capital Partners V, according to a recent report from the pension’s website. TCDRS made an initial $75 million commitment to the fund last year. The value-add fund focuses on global investments into the hospitality sector.
The $29.16 billion US public pension has a 6.0 percent target allocation to real estate that currently stands at 2.4 percent.
As illustrated below, TCDRS has made several commitments to real estate funds with a 2018 vintage which combined constitute $871.13 million.
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