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IMRF confirms €100m commitment and boosts RE target allocation

The US public pension has backed a pan-European real estate vehicle.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $43.80bn
Allocation to alternatives: 12.16%
Bitesize: $50-100m

Illinois Municipal Retirement Fund has agreed to commit €100 million ($112 million) to Ares European Property Enhancement Partners III, according to the pension’s December 2019 investment news.

Elsewhere, IMRF also confirmed an increase in its target allocation to real estate for fiscal year 2020 from 8.0 percent to 10.0 percent. The $43.80 billion US public pension’s current allocation to the asset class stood at 6.72 percent as of November 2019.

As illustrated below, IMRF has made six commitments to real estate vehicles with a 2019 or 2020 vintage, which combined constitute $549 million.

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