The $28.4 billion Texas Municipal Retirement System has committed $75 million to a fund managed by Abacus Capital Group.
Abacus Multi-Family Partners IV will target select markets in the United States and will acquire existing multifamily real estate assets with the intention of implementing a value-add property improvement plan, as well as develop new multifamily real estate assets. The value-added real estate fund is seeking to raise $500 million in total equity commitments.
The pension fund’s actual allocation to real estate is 8.3 percent.
