Illinois Municipal Retirement Fund, Oak Brook, made up to $406 million in new private equity and real estate commitments, spokesman John Krupa said in an email.
The $42.7 billion pension fund committed up to $200 million to HarbourVest 2019 Global Fund, a private equity fund of funds managed by HarbourVest Partners, and up to €50 million ($56 million) to The IK IX Fund, a European middle-market buyout fund managed by IK Investment Partners.
IMRF's commitment to HarbourVest is revised from a May 2018 decision to invest in an evergreen separate account with HarbourVest, with an initial commitment of up to $200 million and additional annual commitments. The commitment to IK Investment Partners is the first direct commitment to the manager; IMRF has exposure of €6 million to the manager through its Pantheon Ventures separate account.
In real estate, IMRF committed up to $100 million to Blackstone Real Estate Debt Strategies IV, a real estate debt fund managed by Blackstone Group, and up to $50 million to Rockwood Capital Real Estate Partners Fund XI, a value-added real estate fund.
The pension fund previously committed up to €100 million to Blackstone Real Estate Partners Europe VI in February and up to $50 million to Rockwood Capital Real Estate Partners Fund X in 2015.
As of March 31, the pension fund's actual allocation to alternative investments was 4.6%; the target is 7%.