Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $50.8 billion
Allocation to alternatives: 6.9%
Illinois Municipal Retirement Fund will commit $150 million to Blackstone‘s latest private real estate fund, according to a press release from the pension.
The pension is investing to Blackstone’s 10th opportunity fund, Real Estate Partners X. IMRF has been a long term and recurrent investor into Blackstone managed funds, committing $1.12 billion across multiples funds to date.
IMRF has a 6.9 percent allocation to real estate, which is less than its 10 percent target allocation.
The US public pension’s recent private real estate commitments have tended to target either Europe- or North America-based vehicles across diversified sectors and strategies.
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