The Texas County & District Retirement System (TCDRS) has committed $75 million to Pennybacker VI, a value-add real estate fund managed by Pennybacker Capital.
Pennybacker VI is seeking to raise $2 billion to invest in various property types in the United States. The fund’s predecessor, Pennybacker V, targeted middle-market real estate in U.S. cities with a high growth outlook.
TCDRS has a 6 percent target allocation to private real estate, according to the pension fund’s website.
For more information about this commitment or others, visit the IREI.Q database.
