Houston Police Sees $555M in 2025 Alts Pacing, Commits $15M to NB RESOF II

The Houston Police Officers’ Pension System (HPOPS) is targeting $555M in new commitments across private equity, credit, and real estate in 2025 and has also made a $15M add-on commitment to Neuberger Berman’s opportunistic real estate fund.

According to its January 7 board meeting materials obtained by Dakota, Houston Police moved to allocate an additional $10M to $15M to NB Real Estate Secondary Opportunities II, supplementing the $35M it earlier committed to the fund in 2024. The investment is the pension’s most recent in a Neuberger Berman fund and follows after the $50M commitment it made to the manager’s Private Debt Fund V in November of last year.

HPOPS also disclosed the 2025 potential pacing targets for its alternative investments portfolio as staff recommended a $360M allocation to private equity, $105M to real estate, and $90M – or $45M split between two funds – to private credit. To date, private equity accounts for 20% of the pension’s total portfolio of roughly $8.5B, while real estate and private credit account for 10.3% and 7%, respectively.

Written By: Dakota

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Houston Police Sees $555M in 2025 Alts Pacing, Commits $15M to NB RESOF II

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