Texas ERS contributes $50m to Abacus Multi-Family Partners VI

The Employees Retirement System of Texas (Texas ERS) has disclosed a $50 million commitment to Abacus Multi-Family Partners VI, managed by Abacus Capital Group, in a recent investment report.

The investment was made on behalf of the pension fund’s private real estate asset allocation.

Launched in April, Abacus Multi-Family Partners VI seeks to acquire U.S. multifamily properties with specific characteristics, such as relative affordability in markets and submarkets showing favorable multifamily trends.

As of October, the fund had raised $1.45 billion against its target of $1.25 billion, according to a filing with the SEC.

The previous fund in the series, Abacus Multi-Family Partners V, had a fundraising target of $790 million.

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