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Investors - SEPTEMBER 9, 2020

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Waterton Residential Property Venture XIV fund brings in two more U.S. pension funds

by Kali Persall

Two U.S. pension funds have backed a private real estate fund managed by Waterton Residential Property.

The Employees Retirement System (ERS) of Texas and the Teachers’ Retirement System (TRS) of Louisiana each committed $50 million to Waterton Residential Property Venture XIV.

ERS Texas disclosed the commitment in an August investment report. TRS Louisiana could not be reached to comment on its recent investment activity.

The fund launched in March and is targeting $1.25 billion, according to IREI’s FundTracker database. Waterton Residential Property Venture XIV is structured as a Delaware onshore LP vehicle.

The pension funds are the latest in a series of others to back the fund. Other investors include the Orange County (Calif.) Employees Retirement System, the Los Angeles City Employees’ Retirement System, the Kansas Public Employees Retirement System, the Maryland State Retirement and Pension System, and the Ohio Police & Fire Pension Fund.

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