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Illinois Teachers’ agrees to $185m in commitments

The US public pension has backed two vehicles in its latest round of real estate commitments.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $52.16bn
Allocation to alternatives: 29.80%
Bitesize: $100-200m

Teachers’ Retirement System of the State of Illinois has approved $185 million worth of real estate commitments to two vehicles, a contact at the pension informed PERE. The commitments are made up of $125 million to Cerberus Real Estate Debt Fund and $60 million to Exeter Industrial Core Fund III.

The $56.16 billion US public pension has an 11.0 percent target allocation to real estate which currently stands at 9.90 percent.

As illustrated below, Illinois Teachers’ has made two other commitments to real estate vehicles with a 2019 vintage: $200 million to Rockpoint Real Estate Fund VI and $300 million to Oak Street’s open-ended Real Estate Capital Net Lease Property Fund.

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