Texas Employees Retirement System, Austin, committed $50 million to Waterton Residential Property Venture XII, materials prepared for last month’s board meeting show.
The value-added real estate fund acquires underperforming multifamily assets in the U.S.
The $25.3 billion pension fund previously committed $100 million to predecessor fund Waterton Residential Property Venture XI in February 2011.
As of Dec. 31, the pension fund had a 5.9% allocation to private real estate.
Mary Jane Wardlow, an ERS spokeswoman, could not immediately provide additional information.