IMRF confirms $150m in commitments to two real estate funds

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $54.84 billion
Allocation to alternatives: 13.96%

Illinois Municipal Retirement Fund has approved $150 million in commitments to two real estate funds, according to the pension’s August 2021 investment committee meeting minutes.

The commitments comprised $100 million to Blackstone Real Estate Partners Asia III and $50 million to Crow Holdings Development Opportunities Fund I.

IMRF has a 10 percent target allocation to real estate, which currently stands at 6.29 percent.

As illustrated below, IMRF’s recent real estate fund commitments have predominantly targeted vehicles pursuing an opportunistic strategy.

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