Searches and Hires

Texas Employees commits $230 million to real estate, co-investments

Texas Employees Retirement System, Austin, committed a total of $230 million to five alternative investment funds in April, a transaction report showed.

In real estate, investment officers of the $29.6 billion defined benefit plan committed $125 million to existing manager True North Management Group for investment in True North Real Estate Fund IV, a real estate debt fund. The pension fund invested in the previous fund in the manager's family.

ERS officials also committed $55 million to Asana Partners Fund II, a U.S. value-added real estate fund. Asana Partners is a new manager for the fund.

The pension fund made three commitments to co-investments in April: $30 million to CO20190410; $15 million to CO20190426; and $5 million to CO20190429. It is ERS policy not to identify the manager or strategy of its co-investments.