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IMRF confirms $75m commitment

The US public pension has backed Oak Street's fifth series value-add real estate fund.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $43.30bn
Allocation to alternatives: 12.23%
Bitesize: $50-100m

Illinois Municipal Retirement Fund has approved a $75 million commitment to Oak Street Real Estate Capital Fund V, according to the pension’s November 2019 investment committee meeting materials. The value-add fund is currently in market seeking $2 billion in equity capital.

The $43.30 billion US public pension has a 9.0 percent target allocation to real estate that currently stands at 6.70 percent.

As illustrated below, IMRF has made five commitments to 2019-vintage real estate vehicles, which combined constitute $589 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.