Texas County & District Retirement System, Austin, committed €70 million ($77 million) to Aermont Capital Real Estate Fund V on March 31, a transaction report showed.
In 2018, the $43.9 billion system's investment staff committed €85 million ($94 million) to the prior fund in Aermont Capital's fund series, a transaction report for that year detailed.
The fund's portfolio managers will target opportunistic real estate deals in western Europe.
Assets managed in the system's real estate portfolio totaled $1.8 billion as of Dec. 31. The system's allocation to real estate was 4.1% of plan assets on Dec. 31. It's target allocation to the asset class is 6%.
As of March 31, Texas County committed a total of $352 million to five real estate managers, the 2022 transaction report showed.
In all of 2021, the system committed a total of $789 million run by seven managers, according to the transaction report for that year.
