Texas Municipal commits $783m to real estate
The Texas Municipal Retirement System has committed a total of $783 million to several real estate funds, according to Bill Wallace, director of communications for TMRS.
The $23.4 billion pension fund’s largest commitment was $250 million to USAA Eagle Real Estate Feeder 1, an open-end fund that focuses on core-plus U.S. properties.
Additionally, the pension fund committed to two funds managed by H/2 Capital Partners: $125 million to H/2 Credit Partners and $75 million to H/2 Core Real Estate Debt Fund.
A $100 million commitment was made to TPG Real Estate Partners II, an opportunistic fund sponsored by TPG Capital that also recently received a $125 million commitment from the New Jersey Division of Investment.
The pension fund also committed $75 million to Rubenstein Properties Fund III, a value-add