Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
AUM: $27.59bn
Allocation to alternatives: 14.42%
Bitesize: $50-100m
Texas Municipal Retirement System (TMRS) has agreed to commit $75 million to Pennybacker V and $37.50 million to Pennybacker Extended Investment Vehicle, according to a recent report on the pension’s website. The latter is a co-investment vehicle investing alongside Pennybacker V.
The $27.59 billion US public pension has a 10.0 percent target allocation to real estate that currently stands at 9.61 percent.
As illustrated in the charts below, TMRS has made three commitments to real estate funds with a 2019 vintage, which combined constitute $312.50 million.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
