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

The US public pension has backed Lone Star Real Estate Fund VI.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $51.05bn
Allocation to alternatives: 35.40%
Bitesize: $200-500m

Teachers’ Retirement System of the State of Illinois has agreed to commit $300 million to Lone Star Real Estate Fund VI, a contact at the pension informed PERE. Lone Star’s Real Estate fund series focuses on acquiring distressed debt used for real estate financing.

The $51.05 billion US public pension has a 9.90 percent target allocation to real estate that currently stands at 11.0 percent.

As illustrated in the charts below, the pension has previously committed to Lone Star Real Estate Fund VI’s three predecessors, with commitments to the series totalling $1.05 billion.

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