The Employees’ Retirement System of Texas has approved a fiscal year 2024 target of $300 million of commitments toward private real estate investments, with a range of $150 million to $450 million, according to recent meeting documents.
The ERS of Texas committed $230 million toward private real estate in fiscal year 2023, more than the target it had set of $200 million.
“Current strategic initiatives,” the meeting document reads, “include a continued focus on the industrial sector due to the unintentional portfolio underweight to the outperforming property type and strategic re-ups with existing managers as appropriate. Staff will also continue to evaluate co-investments through both direct tactical opportunities and programmatically through a new allocation to a co-investment fund.”
