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Sign in Sign up for a FREE subscriptionTexas ERS commits $151m to real estate funds
The $28.5 billion Employees Retirement System of Texas has committed a total of $151 million to two real estate funds, according to Aris Oglesby, operational due diligence analyst for the pension fund.
Texas ERS committed $101 million to BPE Asia Real Estate Fund II, managed by Baring Private Equity Asia, and $50 million to Torchlight Debt Opportunity Fund VI, managed by Torchlight Investors.
BPEA Real Estate Fund II will invest in debt secured by properties throughout Asia. The flagship fund in the debt series, BPE Asia Real Estate Fund, held a $365 million final close in 2015.
The second fund, Torchlight Debt Opportunity Fund VI, is an opportunistic real estate debt fund focused on investing across multiple real estate debt strategies, including first-lien commercial mortgages, CMBS, mezzanine loans, and commercial real estate asset–backed CDOs.
Texas ERS has a target allocation to real estate of 10 percent.
