Texas Municipal Retirement System intends to invest $500m (€458m) in infrastructure and $200m in real estate in 2024, according to the pension fund’s meeting document.  

Texas Municipal which has 13% of its total plan assets invested in real estate expects the target allocation for the asset class in 2024 to be 12%. Infrastructure, which currently accounts for 5.3% of the pension fund’s portfolio is expected to be increased to 6% in 2024.

The 2024 pacing plan remains flexible, allowing for upward and downward adjustments based on market conditions. In 2023, the real estate pacing was expected to be $500m during the period but only half of the amount was invested.

Texas Municipal has an investment history of placing capital into both core and non-core sectors for both real estate and infrastructure.

The pension fund is expected to invest through strategies like funds and co-investments.

To read the latest IPE Real Assets magazine click here.