Texas County & District Retirement System, Austin, committed $75 million to FPA Core Plus Fund VI.
The $40 billion pension fund's investment staff completed the commitment to the core-plus multifamily real estate fund managed by FPA Multifamily on July 7, a transaction report on the pension fund's website shows.
It is the pension fund's second commitment to the manager in 2022, having previously committed $75 million to FPA Apartment Opportunity Fund VIII in March.
With the addition of this latest FPA fund, the pension fund has committed a total of $472 million to seven real estate funds run by six managers year-to-date, according to the transaction report.
The pension fund had committed a total of $789 million to seven funds from seven real estate managers in all of 2021, that year's transaction report showed.
As of March 31, the actual allocation to real estate was 4.6%; the target is 6%.
