Harrison Street Real Estate Capital has moved into the infrastructure asset class and attracted capital from Texas Municipal Retirement System (TMRS).
TMRS said in a board meeting document that it has approved a $200m (€177m) commitment to the open-ended Harrison Street Social Infrastructure Fund.
The fund will invest in assets that serve education, healthcare, government and utility sectors, seeking gross returns of 8% to 11%.
Harrison Street is better known for investing in student and senior housing, medical office buildings and self-storage.
Harrison Street did not respond to a request for comment.
TMRS is making the investment for its real return portfolio. It plans to make $400m to $800m of real-return investments this year.
The $28.9bn pension fund also said it expects to invest about $400m in real estate through funds or separate accounts.
It will also restructure its existing real estate relationship with H/2 Capital Partners to invest in value-add real estate.
TMRS previously invested in real estate debt funds H/2 Credit Partners and H/2 Core Real Estate Debt Fund.
