Texas County & District Retirement System (TCDRS) is investing in the latest real estate funds managed by Aermont Capital and Carmel Partners.
The pension fund said in a meeting document that it has approved commitments of €85m (€73.8m) to Aermont Capital Real Estate Fund IV and $75m to the Carmel Partners Investment Fund VII fund.
As previously reported, Aermont is seeking to raise €1.6bn by next month, with a hard cap of €2bn. Fund IV is an opportunistic fund that will be investing in many of the major markets of Europe like Paris, Berlin and London.
The pension fund will become the latest US pension fund to commit to Aermont Capital’s fund as it joins New York State Teachers Retirement System and Los Angeles County Employees Retirement Association.
According to sources that track fundraising, Carmel Partners has just started marketing Fund VII.
Fund VII plans to invest in US apartment assets, either improving existing assets or developing new ones.
Carmel Partners declined to comment.
The previous Carmel Partners Investment Fund VI fund, in which TCDRS invested $50m, was closed in January of last year with $1.03bn of capital.
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