Texas County & District Retirement System, Austin, committed $75 million to Carmel Partners Investment Fund VII, a transaction report showed.
The commitment is the $29.2 billion pension fund's second to real estate manager Carmel Partners. TCDRS committed $50 million in 2015 to the previous fund in the manager's series, which target investments in U.S. multifamily value properties.
Year-to-date Aug. 15, the pension fund's investment officers have committed a total of $250 million to three estate funds, including the latest commitment to Carmel Partners.
In 2017, TCDRS committed a total of $374 million to five real estate strategies.