The Texas County & District Retirement System (TCDRS) has committed $100 million to SRE Opportunity Fund IV, according to a March 23 activity report listed on the pension fund’s website.
The closed-end fund managed by Singerman Real Estate opened to investors a day before the commitment was disclosed, with a $700 million fundraising target. The opportunistic fund will invest in commercial real estate properties throughout the United States.
The previous fund in the series, SRE Opportunity Fund III, closed in January 2018 with $500 million in capital commitments, against a $400 million fundraising target. SRE Opportunity Fund II closed in 2015 at its $275 million fundraising target, and the first fund in the series closed in 2013 at $118 million, against a target of $150 million.
