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Sign in Sign up for a FREE subscriptionFort Worth commits $45m between two managers
The Fort Worth (Texas) Employees’ Retirement Fund has committed $45 million — approximately 2.2 percent of the $2.1 billion pension fund’s assets — to two noncore real estate funds, confirms Joelle Mevi, executive director and chief investment officer with the retirement fund.
Real Estate Capital Asia Partners IV, sponsored by SC Capital Partners, received a $25 million follow-on commitment from the retirement system. The pan-Asian opportunistic fund, which launched in June 2014, is seeking $800 million, making it the firm’s largest fund to date. It had already raised $365 million by September. The fund invests across property types in its pursuit of 16 percent net returns.
The other $20 million went to Campus Clarion Student Housing Partners, a $550 million value-add fund managed by both Clarion Partn