Texas County commits $50m to Starwood Capital fund
The $23 billion Texas County & District Retirement System committed $50 million to Starwood Global Opportunity Fund XI, managed by Starwood Capital Group.
The closed-end, opportunistic fund will invest across property types globally, mainly in the United States and Europe. It is targeting equity commitments of $6 billion.
The fund recently received a commitment of $75 million from the $14 billion Public Employees Retirement Association of New Mexico.
TCDRS previously committed $50 million to Starwood Global Opportunity Fund X in June 2014. The pension fund has a target allocation to real estate of 11 percent.