Texas Employees Retirement System, Austin, committed a total of $130 million to three alternative investment funds in late April and May, a transaction report showed.
In real estate, the $28.4 billion pension fund committed $50 million to MH Legacy Fund II. The real estate strategy is jointly managed by Federal Capital Partners and Horizon Land Co. and invests in manufactured home communities in the U.S.
The commitment is the pension fund's first to the Horizon MH fund family. Horizon is an owner-operator of manufactured housing communities; FCP is a real estate investment manager.
ERS also committed an additional $50 million to ERS Private Real Estate Emerging Manager II, managed by Oak Street Real Estate Capital. The fund's first allocation of $50 million to the separate account was made in March 2016.
In private equity, $30 million was committed to Littlejohn Fund VI for middle-market buyout opportunities of companies in Western Europe and North America that are underperforming or making changes in their capital structure. The portfolio managers at Littlejohn & Co. will seek opportunities in a wide range of industries including health care, transportation, chemicals, hardware and logistics.
