TCDRS commits $75m to FPA’s latest core-plus fund

The Texas County & District Retirement System (TCDRS) has placed $75 million in FPA Core Plus Fund VI, a core-plus real estate fund recently launched by FPA Multifamily.

With a fundraising target of $1 billion, FPA Core Plus Fund VI will invest in multifamily properties in the United States.

The fund’s predecessor, FPA Core Plus Fund V, closed in June 2020 with $970 million in equity commitments, exceeding its original target of $750 million. At the time of the close, Fund V was the firm’s largest fund to date. That fund invests in multifamily properties in top-tier demographic neighborhoods in and around major metropolitan areas in the United States.

TCDRS has a 6 percent target allocation to private real estate, housed within its real assets category.

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