The Employees Retirement System (ERS) of Texas has committed $50 million to Principal Digital Real Estate, a private real estate fund managed by Principal Real Estate.
The data center fund has a core investment strategy and is seeking to raise $500 million in equity commitments.
Texas ERS joins the Tennessee Consolidated Retirement System (TCRS) as a recent investor in the fund. TCRS committed $100 million in the fund in December.
As of October 2020, Texas ERS had an 11.08 percent allocation to real estate.
