Illinois Municipal Retirement Fund, Oak Brook, made new private equity and real estate commitments totaling up to $413 million.
In private equity, the $51 billion pension fund committed up to £175 million ($243 million) Inflexion Buyout Fund VI, a middle-market U.K. buyout fund managed by Inflexion Private Equity Partners; up to $50 million to NMS Fund IV, a buyout fund managed by New Mainstream Capital; and up to $20 million to LSVP SCF1, a venture capital fund managed by Lightspeed Venture Partners, spokesman John Krupa confirmed in an email.
As of Feb. 28, the actual allocation to alternative investments was 6.7%; the target is 10%.
In real estate, the pension fund committed up to $100 million to CBRE Strategic Partners U.S. Value 9, a U.S. enhanced return real estate fund managed by CBRE Global Investors.
As of Feb. 28, the actual allocation to real estate was 6.4%; the target is 10%.