Texas Permanent School Fund (PSF) and Sacramento County Employees Retirement System (SCERS) are investing in LaSalle Investment Management’s debut Chinese logistics fund, which was launched last year.

The two pension funds confirmed to IPE Real Assets that they have committed $50m (€42.3m) and $30m, respectively, to the LaSalle China Logistics Venture.

LaSalle, which according to a SCERS board meeting report had set a $1bn capital-raising target for the fund, has now raised more than $760m.

The China Logistics Venture has a value-add strategy, according to SCERS, and is targeting key logistics regions, including greater Shanghai and Beijing, and South China.

It will develop new properties and acquire existing assets that are underperforming and need to be repositioned.

The commitment issued by Texas PSF is part of $270m of new commitments the endowment has issued over the past three months.

These include a $100m commitment to the PAG Enhanced Credit Fund III, which guarantees loans on real estate assets in Australia and New Zealand.

Texas PSF has also approved two $50m commitments to Ares US Real Estate Fund X and Madison Realty Capital Debt Fund V, and a $20m investment in Berkshire Value Fund V.