Illinois TRS commits $75 million to real estate

The $39.6 billion Teachers’ Retirement System of the State of Illinois  has committed $75 million to Oaktree Capital Management to invest in real estate.

The $75 million was taken from Illinois TRS’s private equity portfolio and reinvested with Oaktree, according to notes from a May Board of Trustees meeting. The pension fund had previously committed $455.1 million to Oaktree from its private equity and fixed-income portfolios.

Oaktree Capital Management, based in Los Angeles, invests in real estate debt and opportunities in the United States and abroad.

Real estate comprises 11.7 percent of Illinois TRS’s investment portfolio. As of March 31, 2013, $4.6 million has been invested in real estate.