The Texas Municipal Retirement System (TMRS) committed $300 million to core-plus and enhanced core real estate funds earlier this year.
The pension fund slated $200 million for Virtus Real Estate Enhanced Core and $100 million for BentallGreenOak US Core Plus Fund during the month of January, according to a recent board-meeting document.
Virtus Real Estate Enhanced Core, managed by Austin-based investment firm Virtus Real Estate Capital, invests in properties that prove resilient in a recession. These span property sectors that have historically consistent returns less correlated with the broader market, such as healthcare, self-storage, senior-housing, student-housing and education assets. As of March, the fund had secured $501 million of equity commitments from eight investors, according to an SEC filing.
TMRS previously invested as much as $200 million
