Texas ERS contributes $50m to Marcus Capital Partners Fund III’s final closing

The Employees Retirement System (ERS) of Texas has invested $50 million in private real estate fund Marcus Capital Partners Fund III, according to a recent investment report.

The investment closed during the month of January — the same month Marcus Capital Partners announced the final closing of the value-add fund with $360 million in capital commitments. The fundraise exceeded both the original $300 million fundraising target and the $350 million hard cap.

Marcus Partners is active in the primary metro markets of Boston, New York City and Washington, D.C. Fund III’s strategy targets industrial, life science and multifamily investments.

More than 80 percent of the investors from the fund’s predecessor, Marcus Capital Partners Fund II, invested in Fund III. Roughly 85 percent of these were institutional investors, and the investor base also included a s