Illinois State Universities Retirement System, Champaign, committed $50 million to Belay Ventures IV.
The $24.6 billion pension fund’s board approved the commitment to the value-added real estate fund managed by Belay Investment Group at its Oct.24 meeting, a news release said.
The news release said the manager is a new relationship for the pension fund within its traditional growth asset class.
As of Aug. 31, the actual allocation to traditional growth was 34.2%; its long-term target is 35%.