Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
Allocation to alternatives: 18.30%
Texas Municipal Retirement System has agreed to commit $100 million to Madison Realty Capital Debt Fund V and $100 million to Abacus Multi-Family Partners V, according to an October presentation on the pension’s website.
Both funds will focus on the United States with Madison Realty being a real estate mezzanine/debt fund and Abacus following a value-add strategy. TMRS has previously committed capital to both fund’s predecessors.
The $29.98 billion US public pension has a 10.0 percent target allocation to real estate that currently stands at 9.0 percent.
As illustrated in the charts below, TMRS has made five commitments to real estate funds with a 2019 vintage that combined constitute $512.50 million.
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