Updated with correction
Texas County & District Retirement System, Austin, committed $175 million to Starwood Distressed Opportunity Fund XII Global.
The $30.7 billion pension fund's commitment to the opportunistic real estate fund managed by Starwood Capital Group closed Sept. 25, a transaction report showed.
It is the pension fund's first private real estate commitment of 2020.
TCDRS made eight real estate commitments totaling $701 million in 2019.
The pension fund's target allocation to private real estate is 6%.