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Chicago Transit Authority makes $35m commitment

The US public pension has backed Mesirow Financial's fourth series value-add real estate vehicle.

Institution: Chicago Transit Authority Retirement Benefits
Headquarters: Illinois, United States
AUM: $1.71bn
Allocation to alternatives: 29.50%
Bitesize: $10-50m

Chicago Transit Authority Retirement Benefits has approved a $35 million commitment to Mesirow Financial Real Estate Value Fund IV, according to the pension’s August board meeting minutes.

The $1.71 billion US public pension has a 12.0 percent target allocation to real estate that currently stands at 14.50 percent.

As illustrated below, Chicago Transit is a repeat investor to this fund series, having previously committed $15 million and $25 million respectively to Funds I and II.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.