The Texas County and District Retirement System (TCDRS) has committed $200 million to TPG Essential Housing IV, a program of TPG Angelo Gordon.
This fund is a closed-end debt fund that invests in multifamily and residential sectors across the United States. The fund aims to raise $3 billion in equity. In August, the Kern County (Calif.) Employees Retirement Association committed $50 million to this fund.
TCDRS, a public pension fund, had $58.3 billion in total assets under management, as of June 30. As of then, it had $4.1 billion in total real estate assets with an 8 percent real estate allocation target.
According to Ask IRE.IQ, which synthesizes Institutional Real Estate, Inc.’s database of investment programs and organizations with more than 30 years of published coverage, the system’s real estate assets have grown nearly fourfold from $1.1 billion in 2021 to nearly $4.1 billion
