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TRS commits $360m to real assets

The US-based public pension has committed a total of $360m in three separate real asset funds.

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Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $63.6 billion
Allocation to alternatives: 33.8%

US public pension Teachers’ Retirement System of the State of Illinois has committed a total of $360 million to real assets. Following its board meeting in late October, the institution allocated commitments to three funds in the $9.6 billion real assets portfolio.

The system’s total commitment of $360 million arose from a $100 commitment to Blackstone Real Estate Partners Asia III, $60 million to Brasa Real Estate Fund II, and $200 million to LaSalle Asia Opportunity Fund VI.

Blackstone and LaSalle currently administer $620 million and $6.9 million to TRS assets respectively. Brasa Capital Management is a new investment relationship for TRS.

Illinois Teachers’ allocates 15 percent of its total investment portfolio to real estate. The $63.6 billion US public pension’s real estate commitments have predominantly targeted funds seeking opportunistic returns.

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