A newly-launched fund by Related Cos. has secured $125 million in new capital commitments, several media sources reported this week.
The investor was Texas County & District Retirement System (TCDRS), a pension fund with a 6 percent allocation to private real estate and $30 billion in net assets, as of Dec. 31.
The Related Real Estate Fund III will invest in retail, residential, office, hospitality and city center assets across the United States.
TCDRS makes private real estate investments through private partnerships that acquire and operate commercial real estate, including office buildings, apartments, hotels, malls and residential real estate, according to the pension fund’s website.
The pension fund has reportedly committed $420 million in capital to five real estate funds this year.
