TMRS invests in core and opportunistic real estate
The $20.8 billion Texas Municipal Retirement System (TMRS) has committed $150 million to two real estate funds.
TMRS invested in AbaCore I, a core closed-end fund managed by Abacus Capital Group. The retirement system made a follow-on commitment of $75 million.
The second commitment was for TMRS’ opportunistic portfolio. The retirement system made a $75 million commitment to Lubert-Adler Fund VII, a recently launched closed-end fund managed by Lubert Adler. The fund aims to raise $850 million and will focus on investing in middle-market retail, multifamily, hotel and industrial assets exclusively in the United States through joint ventures with operating partners.
In December 2012, TMRS