Illinois State Universities Retirement System, Champaign, committed $100 million to two real estate debt strategies during a March 12 board meeting, confirmed spokeswoman Beth A. Spencer in an email.
The $29.1 billion pension fund committed $50 million to Torchlight Debt Opportunity Fund VII, which is managed Torchlight Investors and will seek value-added real estate debt deals in the U.S.
Torchlight is a new manager for SURS.
Existing manager Basis Investment Group was awarded the other $50 million committment for BIG Real Estate Fund II. SURS committed $30 million to the prior fund in the manager's series in 2017.
