Illinois Municipal Retirement Fund, Oak Brook, on Friday committed a combined $100 million to two real estate funds and a total of up to $53 million to three private equity funds.
The board of the $34.3 billion pension fund committed up to $75 million to Starwood Global Opportunities Fund XI, a value-added fund managed by Starwood Capital Group focusing on U.S. and European properties.
Starwood already manages a total of $70 million in two other value-added funds for IMRF.
The pension fund also committed an additional $25 million to Artemis Real Estate Partners Healthcare Fund I, a core fund investing in U.S. health-care equity and debt. The added money brings the total commitment to $50 million.
In private equity, IMRF committed £15 million ($21.5 million) to the Inflexion Enterprise Fund IV and £17 million to the Inflexion Supplemental Fund IV. The two U.K. buyout funds are managed by Inflexion Private Equity Partners.
IMRF already has committed a total of $50 million to two other Inflexion funds.
Also, up to $8 million was committed to ABRY Heritage Fund, a private equity fund managed by ABRY Partners that invests in information technology.
The pension fund has a total of $80 million committed to 10 other ABRY funds, either directly or through its private equity fund-of-funds manager, Abbott Capital Management.
IMRF has 5.2% of assets in real estate and 4.7% in alternatives, both as of March 31.
