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Teachers’ Retirement System of the State of Illinois approves $300m commitment

The US public pension has backed Oak Street's open-ended fund.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $52.15bn
Allocation to alternatives: 35.40%
Bitesize: $200-500m

Teachers’ Retirement System of the State of Illinois has agreed to commit $300 million to Oak Street Real Estate Capital Net Lease Property Fund, a contact at the pension informed PERE. This open-ended fund launched in October 2018 and has reached $1.5 billion in commitments.

The $52.15 billion US public pension has an 11.0 percent target allocation to real estate that currently stands at 9.90 percent.

As illustrated below, Illinois Teachers’ has committed to seven real estate vehicles with a 2018 or 2019 vintage, which combined constitute $1.5 billion.

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