Houston Firefighters commits $25m to real estate
The $3.8 billion Houston Firefighters’ Relief & Retirement Fund has committed $25 million to Lone Star Real Estate Fund V, according to recent meeting documents. The fund, which launched in December 2015, targets real estate debt and equity investments in the Americas, Western Europe and Japan. HFRRF previously committed $25 million to Lone Star Real Estate Fund IV in 2015. Fund IV held a first and final close of $5.9 billion in April 2015. The retirement fund has a 5.5 percent target allocation to real estate.