Texas County & District Retirement System (TCDRS) has approved a $75m (€71.3m) commitment to a US value-add real estate fund managed by FCP.
The pension fund said it has backed FCP Realty Fund VI, a fund seeking to raise $1.65bn.
As previously reported, the Teachers’ Retirement System of Louisiana also approved a $75m commitment to the FCP fund.
The US real estate fund manager raised $1.2bn for FCP Realty Fund V at the fund’s final close in September last year.
The latest fund is expected to mainly target multifamily assets with a secondary focus on commercial properties such as office, life science and mixed-use.
Back in February, TCDRS also issued a $50m co-investment to FCP Realty Fund V. This was after the pension made a $125m commitment directly into the fund in June 2021.
FCP declined a request for comment.
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