Employees Retirement System (ERS) of Texas has approved a $100m (€85.8m) commitment to a new US open-ended life science and technology-related real estate fund managed by GI Partners.
ERS of Texas said it has backed the GI Real Estate Essential Tech + Science Fund (ETS Fund), a fund GI Partners launched in July this year.
ETS Fund will seek to acquire data centre assets, life science office buildings and research and development properties within the office and industrial sectors.
The amount of capital GI Partners is seeking to raise for the fund is currently unknown.
According to published reports, the fund has so far acquired the Mt Eden Research Park in Hayward for $55m, the Pointe in Redwood City for $30.1m and the 3701 Market Street asset in Philadelphia for $79m.
GI Partners did not respond to a request for comment.
ERS of Texas has also issued two commitments worth $150m to Blue Vista City Select Fund, a core US real estate fund.
The fund’s manager Blue Vista Capital Management declined a request for comment.
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