SEPTEMBER 27, 2013

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Texas Employees Retirement commits $80 million to two funds

by Reg Clodfelter

The $24.2 billion Employees Retirement System of Texas (ERS) recently made a $60 million commitment to Brookfield Strategic Real Estate Partners and a $20 million follow-on investment in KTR Capital Fund III. Both commitments were made in July 2013 and advised by Texas ERS’ investment consultant, R.V. Kuhns & Associates.

Brookfield Strategic Real Estate Partners (BSREP) is a global opportunistic fund managed by Brookfield Asset Management. The fund launched in July 2011 with a fundraising goal of $3.5 billion. It closed in July 2013 after exceeding its fundraising goal by raising $4.4 billion. The fund will invest in commercial property, specifically in Australia, Brazil, Europe and North America. It will acquire properties through direct investment as well as invest in real estate

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