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Texas Municipal allocates $775m for REITs, infrastructure

by Jody Barhanovich

The $24 billion Texas Municipal Retirement System has approved $775 million in new allocations to REITs and infrastructure, according to board-meeting documents. The pension fund committed $375 million to Nuveen Real Asset Income Strategy, a separate account managed by Nuveen Asset Management, and $400 million to Cohen & Steers Real Asset Multi-Strat, a separate account managed by Cohen & Steers Capital Management. The pension fund has a 10 percent target allocation to real estate and a 5.2 percent actual allocation.

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