The $27.4 billion Texas Employees Retirement System, Austin, committed a total of $125 million to two alternative investment funds in August, a transaction report showed.
From the system's $2.4 billion private real estate portfolio, existing manager Waterton Investment Adviser received a $50 million commitment to Waterton Residential Property Venture XIV, which will invest in U.S. multifamily properties.
Texas ERS previously committed $65 million in 2017 to the 13th fund in Waterton's series and in 2015, committed a total of $125 million to the 12th fund.
From ERS' $1 billion infrastructure pool, $75 million was committed to co-investment CO20200827. As a matter of policy, ERS does not identify the manager of co-investments.