The $29.6 billion Texas County & District Retirement System has committed $75 million to KSL Capital Partners V, according to the pension fund’s website.
KSL Capital Partners V, managed by KSL Capital Partners, will invest in hotels, resorts, clubs, fitness properties and resort real estate globally. The fund previously also received a $200 million commitment from the Oregon Public Employees Retirement Fund and a $300 million commitment from the Washington State Investment Board.
Texas County previously committed $40 million to the fund’s predecessor, KSL Capital Partners IV, in December 2014. Fund IV held a final close of $2.68 billion in equity commitments in 2015.
Texas County has a target allocation to real estate of 11 percent.