TMRS approves $200m in commitments to two real estate vehicles

Institution: Texas Municipal Retirement System
Headquarters: Austin, US
AUM: $31.5 billion
Allocation to alternatives: 12.5%

Texas Municipal Retirement System has approved $200 million-worth of commitments to two real estate vehicles, a contact at the pension fund told PERE.

The commitments comprised $100 million apiece to TSP Value & Income Fund III and  Platform Ventures Real Estate Strategies V.

Transwestern Investment Group is in market seeking $450 million for its third value-add real estate fund. The fifth fund by Platform Ventures is raising $300 million of capital commitments to target opportunistic real estate in North America.

TMRS has a 10 percent target allocation to real estate, which currently stands at 8.8 percent.

As illustrated below, The $31.5 billion US public pension’s recent commitments have pursued North American core, value-add and debt strategies covering diversified sectors.

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