IMRF confirms €50m commitment

The US public pension has backed Ares' sixth European real estate fund.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $54.9 billion
Allocation to alternatives: 13.96%

Illinois Municipal Retirement Fund has approved a €50 million commitment to Ares European Real Estate Fund VI, according to the pension’s latest board of trustees meeting. This brings the total capital IMRF has committed to Ares Management funds to $388 million.

IMRF has a 6.29 percent allocation to real estate, with the market value of its private real estate portfolio at $3.45 billion.

The $54.9 billion US public pension’s recent private equity commitments have tended to target North American vehicles focused on a variety of strategies.

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