Investors - JANUARY 17, 2013

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TCDRS commits €40 million to invest in Europe

by Andrea Waitrovich

The $17.6 billion Texas County & District Retirement System (TCDRS) has committed €40 million ($54 million) to Orion European Real Estate Fund IV, an opportunistic fund managed by U.K.-based Orion Capital Managers. The fund invests in all property sectors through Western Europe. It was launched in January 2012 with a €1.3 billion ($tk billion) fundraising goal.

According to a report by U.K. magazine Property Week, the fund is expected announce its first close this quarter with approximately €650 million ($tk million) in equity commitments.

Another recent opportunistic investment made by TCDRS was a $50 million commitment to Rockpoint Real Estate Fund IV (RREF IV), an opportunistic fund managed by real estate private equity firm Rockpoint Group. RREF IV has raised approximately $2 billion in equity commitments; the

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