Illinois State Universities Retirement System, Champaign, committed up to $30 million to Newport Capital Fund III.
The $22.1 billion pension fund's board approved the commitment to the closed-end, non-core real estate fund managed by Newport Capital Partners at its April 22 remote meeting, a news release said Monday.
SURS had previously made commitments to Newport Capital Fund I in 2012 and two other co-investment funds in 2018 and 2019, the news release said. The amounts of the previous commitments were not provided.
SURS' actual allocation to non-core real estate is 2.2%; the target is 4%.
