IMRF approves $147.7m in commitments

The US public pension has backed two real estate funds.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $40.70n
Allocation to alternatives: 11.0%

Illinois Municipal Retirement Fund (IMRF) has agreed to $147.7 million in commitments to two real estate funds, according to minutes from the pension’s February Board meeting. €100 million ($112.7 million) has been allocated to the newly-launched Blackstone Real Estate Partners Europe VI, with an additional $35 million committed to Long Wharf Real Estate Partners VI.

The $40.70 billion US public pension has a 9.0 percent target allocation to real estate which currently stands at 6.0 percent.

As illustrated in the charts below, IMRF’s private real estate investments tend to focus on vehicles with value-add or opportunistic strategies in North America and Western Europe.

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