IREI has learned the $1.7 billion Tulare County (Calif.) Employees' Retirement Association (TCERA) has committed $75 million to Invesco Real Estate's open-end Commercial Mortgage Income Fund.
TCERA could not be reached to comment on its investment efforts at the time of publication.
Launched in 2017, the Invesco Commercial Mortgage Income Fund will invest in debt secured by U.S. properties.
As of June 2019, TCERA’s portfolio included two real estate funds, one private REIT and one closed-end fund, that invest primarily in a diversified portfolio of institutional-quality multifamily, industrial, retail and office assets in the United States.
As of Jan. 31, TCERA had an actual allocation to real estate of 10.1 percent.
