Texas County & District Retirement System, Austin, committed €40 million ($44.8 million) to Blackstone Real Estate Partners Europe V, a transaction report on the $24 billion pension fund’s website showed.
About 60% of the assets raised for the fund, managed by Blackstone Group, will be focused on opportunistic investments in office, industrial, residential, retail and hotel properties in France, Germany and the U.K. The balanced will be invested in distressed opportunities in Ireland, Italy and Spain.
In February, TCDRS committed $100 million to Blackstone Real Estate Debt Strategies III, a direct lending strategy.
