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.

 

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