Texas Employees Retirement System, Austin, committed a total of $65 million to two alternative investment managers in October and November, said a transaction report Tuesday.
The largest commitment was $50 million to Abacus Multi-Family Partners VI, managed by existing manager Abacus Capital Group.
The fund will focus on acquiring properties with specific characteristics, such as relative affordability, in markets with favorable multifamily trends.
In March 2020, the $32.7 billion pension fund committed $125 million to the prior fund in Abacus' multifamily real estate fund lineup.
ERS' actual allocation to private real estate was 11% as of Oct. 31 compared to a 9% target, investment documents on the system's website showed.
The investment team also committed $15 million to an unnamed private equity co-investment.
As a matter of policy, the system does not identify the manager or investment target of co-investments.
The defined benefit plan's private equity portfolio totaled $6.2 billion representing 19% of assets vs. the 16% target allocation.
