Illinois Municipal Retirement Fund commits to 8 real estate funds
By Barry B. Burr | October 30, 2012 3:13 pm
Illinois Municipal Retirement Fund, Oak Brook, committed up to a combined $225 million to eight real estate funds, according to a statement from the $27.4 billion pension fund.
It committed up to $50 million to Blackstone Real Estate Partners VII; $30 million each to CBRE Strategic Value Partners U.S. 6 and Torchlight Debt Opportunity Fund IV; $25 million each to AEW Partners Fund VII; Dune Real Estate Partners III and Rockwood Capital Real Estate Partners Fund IX; and $20 million each to LaSalle Income & Growth Fund VI and Starwood Distressed Opportunity Fund IX.
Callan Associates, IMRF's investment consultant assisted in the searches.
The commitments move IMRF toward its 6% target allocation in real estate, the statement said. Its actual allocation was 2.8% as of Sept. 30.