Institution: Texas County and District Retirement System
Headquarters: Austin, US
AUM: $42 billion
Allocation to alternatives: 52.6%
Texas County and District Retirement System has approved a $75 million commitment to Marcus Capital Partners Fund IV, according to the pension’s recent investment activity.
Managed by the Boston-based Marcus Partners, Marcus Capital Partners Fund IV has a fund size of $337 million. The fund, which entered the market in January 2022, will target real estate investment opportunities in the North America region with a value-added strategy.
As illustrated below, TCDRS’s private real estate commitments have been to North American vehicles employing value-added, co-investment and mezzanine strategies. The pension has a 6 percent target allocation to real estate that currently stands at 3.4 percent.
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