Illinois Municipal Retirement Fund, Oak Brook, approved new private equity and real assets commitments totaling up to $150 million.
The $47.3 billion pension fund's board approved the commitments at its Dec. 16 meeting, spokeswoman Maureen O'Brochta said in an email.
In private equity, the pension fund committed up to $50 million each to Parthenon Investors VII, a growth equity fund managed by Parthenon Capital; and STG VII, a buyout fund managed by STG Partners.
In private real assets, IMRF committed up to $50 million to Brasa Real Estate Fund III, a value-added real estate fund managed by Brasa Capital Management.
All are existing managers for the pension fund. Prior commitments were all made through separate account managers.
As of Sept. 30, the actual allocations to alternative investments and private real assets were 10.9% and 10.6%, respectively; their respective targets are 14% and 10.5%.