IMRF confirms $50m commitment

The US public pension has backed the ninth vehicle in AEW's value-add series.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $41.08 billion
Allocation to alternatives: 13.79%

Illinois Municipal Retirement Fund has approved a $50 million commitment to AEW Partners Real Estate Fund IX, a contact at the pension informed PERE.

IMRF has an established relationship with AEW, including existing commitments comprising $314 million in total. These commitments include $25 million and $50 million respectively to AEW Partners Real Estate Fund IX’s two immediate predecessor vehicles.

The $41.08 billion US public pension has a 9.0 percent target allocation to real estate that currently stands at 7.30 percent.

As illustrated below, IMRF’s real estate fund commitments tend to target North American value-add vehicles.

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