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TMRS approves $100m commitment

The US public pension has backed a domestic real estate debt fund.

Institution: Texas Municipal Retirement System
Headquarters: Austin, United States
AUM: $29.98bn
Allocation to alternatives: 18.30%
Bitesize: $50-100m

Texas Municipal Retirement System has agreed to commit $100 million to Madison Realty Capital Debt Fund V according to an October presentation on the pension’s website. The fund will originate senior debt for real estate investments in the United States.

The $29.98 billion US public pension also committed $100 million to the fund’s predecessor in 2017 and has a current allocation of 4.80 percent to private debt.

As illustrated in the charts below, TMRS has made six commitments to private debt funds with a 2019 or 2018 vintage that combined constitute $750 million.

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