Texas Municipal Retirement commits a combined $125m to two real estate funds
Texas Municipal Retirement System has made commitments of $125 million each to Virtus Real Estate Capital (VREC) IV and Stockbridge Value Fund V, two real estate funds that focus on markets within the United States.
Managed by Virtus Real Estate Capital, VREC IV will make value-added and opportunistic investments in sectors including healthcare, multifamily, senior housing, student housing, self-storage and medical office. The fund is targeting $900 million in capital commitments. Texas Municipal Retirement committed $150 million to the preceding vintage, VREC III, which closed in 2021 with $578 million in committed capital.
Stockbridge Value Fund V will invest in industrial, multifamily, retail and CBD office sectors with a value-add strategy. The $125 million commitment from Texas Municipal Retirement is a significant boost toward the fund’s fundraising goal of $850 million. Of that goal, $605 million of capital has been raised already, according to data from