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SURS confirms $100m in commitments

The US pension has backed a pair of North American real estate debt vehicles.

Institution: State Universities Retirement System of Illinois
Headquarters: Champaign, United States
AUM: $21.91 billion
Allocation to alternatives: 14.3%

State Universities Retirement System of Illinois approved $100 million-worth of commitments to real estate debt funds at its March 2021 board meeting, according to a press release.

The commitments comprised $50 million apiece to Torchlight Debt Opportunity Fund VII and BIG Real Estate Fund II.

SURS committed $30 million to Basis Investment Group‘s debut real estate debt vehicle in 2017. Torchlight Investors is a new fund manager relationship for the Illinois-based investor.

The $21.91 billion pension has an 8 percent target allocation to real estate that currently stands at 6 percent.

SURS’ recent real estate fund commitments have predominantly targeted North American vehicles focused on real estate debt or value-add equity investments.

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