Houston Municipal Employees Pension System committed $60 million total to two real estate funds, confirmed spokesman Peter Koops.
The $2.2 billion pension fund committed $30 million each to AG Net Lease Realty Fund III, managed by Angelo Gordon & Co., and Lone Star Real Estate Fund III, a distressed commercial real estate debt and equity fund managed by Lone Star Funds.
The pension fund had an 8.4% allocation to real estate as of March 31.
