TCDRS commits $50 million to Rockpoint fund
The $17.6 billion Texas County & District Retirement System (TCDRS) has committed $50 million to Rockpoint Real Estate Fund IV (RREF IV), an opportunistic fund managed by real estate private equity firm Rockpoint Group.
RREF IV has a target size of $2.5 billion to $2.75 billion. The vehicle targets an amount similar to that of its predecessor, Rockpoint Real Estate Fund III, which closed on $2.5 billion in July 2007 and has acquired 55 investments located in the United States, Europe and Japan, according to the Rockpoint Groupwebsite.
RREF IV focuses largely on U.S. distressed assets but also has the ability to invest in Europe and Asia. It will focus 80 percent of investments on the United States — particularly Boston, Northern and Southern California, and Washington, D.C. &