Texas ERS backs new real estate fund from Meridian Realty Partners

The $27.1 billion Employees Retirement System (ERS) of Texas has disclosed a $55 million commitment to private real estate during the month of June.

Texas ERS has backed the $200 million Meridian Realty Partners IV, a newly launched fund managed by Meridian Realty Partners.

Opened to investors in June, Fund IV will invest in value-added and opportunistic real estate in the United States. Meridian specializes in value-added acquisition, repositioning and development opportunities, according to the firm’s website. The firm focuses its investments in the Washington, D.C., metropolitan area, which it characterizes as a market with high barriers to entry, strong demand and absorption, highly developed infrastructure, and substantial exit liquidity.

As of April, Texas ERS had an 11.53 percent actual allocation to real estate against a 12 percent target.