Texas County & District commits $75m to real estate
The $24.7 billion Texas County & District Retirement System has committed $75 million to GEM Realty Fund VI, according to a recent transaction report.
The value-added real estate fund, managed by GEM Realty Capital, launched earlier this month and recently received a commitment from the Houston Municipal Employees Pension System.
TCDRS previously committed $50 million to GEM Realty Capital V, the fund’s predecessor, in 2013. Fund V invests across multiple property types throughout the United States.
TCDRS has a 5 percent target allocation to real estate.