IMRF approves $100m commitment

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $50.96 billion
Allocation to alternatives: 13.12%

Illinois Municipal Retirement Fund approved a $100 million commitment to CBRE Strategic Partners US Value 9 at its March 2021 investment committee meeting, a contact at the pension informed PERE.

CBRE Strategic Partners U.S. Value 9 is in market seeking $2 billion in investor capital. The vehicle had raised $1.1 billion as of September 2020.

IMRF has a 10 percent target allocation to real estate that currently stands at 6.41 percent.

As illustrated below, IMRF’s recent real estate commitments have predominantly focused on North American vehicles targeting value-add returns.

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