Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
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.
Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.