Texas ERS puts $50m in Meridian, Oak Street funds
The $35.5 billion Employees’ Retirement System (ERS) of Texas has disclosed $50 million of commitments to private real estate.
The pension fund committed $25 million each to Meridian Realty Partners Special Opportunities fund, managed by Meridian Realty Partners, and ERS Private Real Estate Emerging Manager III – Oak Street, managed by Oak Street Real Estate Capital.
Meridian Realty Partners is a real estate advisory, investment, asset management and brokerage firm. The firm specializes in value-added acquisition, repositioning and development opportunities. In July 2020, Texas ERS committed $55 million to private real estate fund Meridian Realty Partners IV.
Oak Street Real Estate Capital is a private equity real estate firm based in Chicago. The firm manages both commingled funds and separate accounts on behalf of institutional and high-net-worth investors, i