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Texas Municipal invests in real estate and infrastructure

by Zoƫ Wolff

The $24 billion Texas Municipal Retirement System has committed $250 million to two funds, according to recent meeting documents.

The fund has committed $150 million to Brookfield Infrastructure Fund III, managed by Brookfield Asset Management. The fund invests in transportation, energy and renewable assets and has recently received commitments from the Maine Public Employees Retirement System and the Public School Teachers Pension & Retirement Fund of Chicago.

Texas Municipal additionally committed $100 million to Kildare European Partners II, managed by Kildare Partners. The fund is seeking to raise $2 billion to invest in distressed real estate debt in the United Kingdom, Germany, the Netherlands, Portugal and Italy. The fund recently received a commitment form the Texas Permanent Fund.

The pension fund has a 10 percent target allocation to both real return and real estate.

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