Illinois Teachers Retirement System, Springfield, allocated $625 million to new and existing real estate managers. The $20.5 billion systems new investments were $100 million to JBC Opportunity Fund II and $75 million to the Walton Street Real Estate Fund IV.
Additional allocations to existing real estate managers were $150 million to Commonwealth Realty Advisors, which had run $598 million; $150 million to Lincoln Property, which had managed $161 million; $100 million to Koll Bren Schreiber, which had handled $125 million; and $50 million to Stone Levy, which previously ran $242 million. Funding came from cash flow and a reduction in the plans target domestic fixed-income allocation, to 23% from 27%. All portfolio sizes are as of June 30.