Texas County & District Retirement System has committed $125m (€113.8m) capital to a new opportunistic real estate fund managed by Sculptor Capital Management.
The $30bn pension fund said it had approved the investment in Sculptor Real Estate Fund IV, the first fund created by the company since changing its name from Och-Ziff Capital Management last month.
It is currently unknown how much capital Sculptor intends to raise for Fund IV. It raised $1.5bn of equity for Fund III in 2014.
Sculptor, known for investing in a wide variety of property types, invests mostly in niche property types such as gaming assets, hotels and senior housing.
The company did not respond to a request for comment.