TCDRS backs Pennybacker Capital

The US pension fund has backed Pennybacker's sixth flagship fund.

Name: Texas County and District Retirement System
HQ: Austin, US
AUM: $41.7 billion
Allocation to Real Estate: 5.01%

Texas County and District Retirement System has approved a $75 million commitment to Pennybacker VI, according to the pension’s recent investment activity.

Founded in 2006, Pennybacker Capital is a Texas-based real estate firm targeting investments in commercial and multifamily sectors in sustainable growth market of the US.

As illustrated below, TCDRS’ recent commitments have tended to focus on North American real estate vehicles, which invest under a variety of sectors.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.