Texas ERS commits $150m to two real estate funds

The $26.9 billion Employees Retirement System of Texas has committed a total of $150 million to two real estate funds, according to investment highlights disclosed by Rodrigo Dominguez, operational due diligence analyst for Texas ERS.

The first commitment was $100 million to Northwood Series IX, according to the investment highlights. The private real estate fund is managed by Northwood Investors, a privately held real estate investment adviser. The firm deploys a value-driven investment strategy.

The second commitment of $50 million was to an undisclosed private real estate fund.

As of December 2018, Texas ERS had a target allocation to real estate of 9 percent and an actual allocation of 10.47 percent.