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SURS approves $75m commitment

The Illinois-based public pension has backed Brookfield's fourth series global opportunistic vehicle.

Institution: State Universities Retirement System of Illinois
Headquarters: Champaign, US
AUM: $23.33 billion
Allocation to alternatives: 15.1%

State Universities Retirement System of Illinois confirmed a commitment of $75 million to Brookfield Strategic Real Estate Partners IV at its June 2021 board meeting, according to a press release on the pension’s website.

Brookfield Strategic Real Estate Partners IV launched in April 2021 and is seeking $17 billion in investor capital. Its investment strategy follows on from its predecessor Brookfield Strategic Real Estate Partners III, which held a final close in January 2019 at $15 billion – one of the largest private real estate funds ever raised.

The $23.33 billion US public pension has an 8 percent target allocation to real estate that currently stands at 5.8 percent.

As illustrated below, SURS’ recent real estate commitments have primarily focused on diversified North American vehicles targeting value-add returns.

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