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Teachers’ Retirement System of the State of Illinois confirms $700m in commitments

The US public pension has backed three opportunistic real estate funds.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $51.13bn
Allocation to alternatives: 35.4%
Bitesize: $200-500m

Teachers’ Retirement System of the State of Illinois approved up to $700 million in real estate commitments at its March Board meeting, a contact at the pension informed PERE. The commitments are made up of $300 million to Blackstone Real Estate Partners IX, $200 million to Rockpoint Real Estate Fund VI and $200 million to Westbrook Real Estate Fund XI.

The $51.13 billion US public pension has a 11.0 percent target allocation to real estate that currently stands at 9.90 percent.

As illustrated in the charts below, the pension has made five commitments to real estate funds with a 2018 or 2019, totalling $1 billion.

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