Texas County & District Retirement System, Austin, committed a total of $125 million to real estate and venture capital funds, a transaction report on the $24.3 billion pension fund’s website showed.
The largest commitment was $75 million to GEM Realty Fund VI, a U.S.-focused opportunistic fund managed by GEM Realty Capital, that will invest in a mix of properties and debt.
In venture capital, TCDRS committed $30 million to Column Group III, which will specialize in investment in early stage U.S. drug discovery companies. The Column Group is the fund’s manager.
The pension fund’s investment staff also committed $20 million to Spark Capital Growth Fund II, a U.S. venture capital fund that will focus on later-stage companies in the Internet and mobile communications sectors, according to the transaction report.