Texas County & District commits $150m to real estate funds

The $28.6 billion Texas County & District Retirement System has committed a total of $150 million to two real estate funds, according to the pension fund’s website.

The first was a $100 million commitment to ​BPEA Real Estate Fund II, a newly launched real estate fund managed by Baring Private Equity Asia, an independent alternative asset management firm. The fund will invest in debt secured by properties throughout Asia.

The second was a $50 million commitment to ​Starwood Opportunity Fund XI Global, managed by Starwood Capital Group. The closed-end, opportunistic fund invests in U.S. and European properties. According to an SEC filing made in September, Starwood has raised $5.6 billion, just shy of its $6 billion fundraising target.

Texas County & District has a target allocation to real estate of 7 percent.

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