Illinois Municipal Retirement Fund commits to 8 real estate funds

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.

— Contact Barry B. Burr at bburr@pionline.com | @Burr_PI