The Texas County & District Retirement System (TCDRS) has disclosed a $175 million commitment to Starwood Distressed Opportunity Fund XII Global, an opportunistic fund managed by Starwood Capital Group.
The private real estate commitment closed on Sept. 25, according to a report detailing the pension fund’s recent investment activity.
TCDRS has a 6 percent allocation to private real estate, which consists of investments made through private partnerships that acquire and operate commercial real estate, including office buildings, apartments, hotels, malls and residential real estate.
