The Lubbock Fire Pension Fund (Texas) has committed $4 million to S3 LB Real Estate Credit III, a program of S3 Capital.
This fund is a closed-end, value-added, opportunistic strategy which provides bridge and construction financing for middle-market real estate developments across major U.S. markets, with a focus on ground-up multifamily residential projects. It aims to raise $850 million in equity.
The Lubbock Fire Pension Fund, a public pension fund, had $303 million in total assets under management, as of Dec. 31, 2025, with a 15 percent real estate allocation target and $31.8 million in total real estate assets.
