TMRS approves $200m in commitments

The US pubic pension has backed two domestic real estate funds.

Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
AUM: $29.98bn
Allocation to alternatives: 18.30%
Bitesize: $50-100m

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.

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