Illinois State Universities Retirement System, Champaign, made a follow-on commitment of $100 million to the UBS Trumbull Property Fund, said Daniel L. Allen, chief investment officer.
The $12.4 billion system's existing investment with UBS Trumbull was $105 million as of Nov. 30.
The move is part of SURS' effort to raise its exposure to real estate to 6% of total assets, from 2%, over several years as planned under an asset/liability study conducted in 2008 with the assistance of Ennis Knupp, the system's consultant, Mr. Allen said. Its current real estate allocation was 1.8% as of the end of November.
SURS funded $25 million of the new UBS Trumbull commitment this month. The system plans to fund the remaining follow-on commitment in $25 million installments in April, July and October.
Funding comes from rebalancing, Mr. Allen added.