Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $62.9 billion
Allocation to alternatives: 33.8%
Teachers’ Retirement System of the State of Illinois confirmed $1.2 billion-worth of real estate commitments in Q2 2021, a contact at the pension told PERE.
The commitments comprised $300 million to Carlyle Realty Fund IX; $250 million to Walton Street Capital‘s open-ended Core-Plus Fund; $200 million apiece to Taconic European Dislocation Credit Fund III and KKR Real Estate Partners Americas III; $150 million to Pretium Residential Credit Fund II; $75 million to BIG Real Estate Fund II; and a $25 million top-up commitment to Cerberus Real Estate Debt Fund.
Illinois Teachers’ allocates 14 percent of its total investment portfolio to private debt. The pension’s real estate investments are housed within the wider real assets portfolio.
The $62.9 billion US public pension’s real estate commitments have predominantly targeted either real estate debt vehicles or equity funds seeking opportunistic returns.
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