Texas County commits €70m to European debt fund
The $25.6 billion Texas County & District Retirement System has committed €70 million ($73.7 million) to Orion European Real Estate V, according to spokesman Russ Rhea in an email.
Orion European Real Estate V, which launched in fourth quarter 2016, is an opportunistic closed-end real estate fund that will invest in debt secured by European properties. The fund is managed by Orion Capital Managers, a European real estate private equity ﬁrm.
Texas County committed €40 million ($42.1 million) to the fund’s predecessor, Orion European Real Estate Fund IV. The fund held a €1.3 billion ($1.39 billion) final close in November 2013 and primarily focuses on the United Kingdom, as well as Barcelona, Madrid, Milan and Paris.
Orion is currently investing on behalf of Orion European Real Estate Fund IV, and most recently acquire