Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
Allocation to alternatives: 18.30%
Texas Municipal Retirement System has confirmed $625 million-worth of real estate commitments to four vehicles, a contact at the pension informed PERE.
The commitments comprise of $300 million to PIMCO Corporate Opportunities Fund III, $200 million to Virtus Real Estate Enhanced Core, $75 million to Berkeley Partners Value Industrial Fund V and a $50 million top-up commitment to Abacus Core Income Fund I.
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 below, TMRS has made eight commitments to real estate funds with a 2019 or 2020 vintage, which combined constitute $887.5 million.
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