Employees Retirement System (ERS) of Texas has approved $450m (€382m) worth of new real estate and infrastructure investments.
The pension fund disclosed in its investment summary report that it committed $100m to CBRE Investment Management’s latest value-add Asia real estate investment fund.
The capital raising target for CBRE Asia Value Partners VII is currently unknown. CBRE raised $1.74bn for the previous fund in the series which closed in October 2021.
ERS of Texas doubled its investment in Wheelock Street Capital’s US opportunistic real estate fund with another $100m commitment. The pension fund made an initial $100m commitment to the Wheelock Long Term Value Fund in January 2020.
The pension fund said it also approved a $50m commitment into SIH Debt Opportunity Fund III, a US real estate debt fund managed by Sabal Investment Advisors.
ERS of Texas Employees placed $35m into Northpond Fund V, a fund managed by Northpond Partners. US real estate manager Northpond is known for investing in undervalued retail and mixed-use properties.
The pension fund also approved two co-investments: a $150m allocation for real estate and a $15m allocation for infrastructure.
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