Investors - SEPTEMBER 29, 2016

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Illinois approves $50m commitment to Harrison Street fund

by Jody Barhanovich

The $16.5 billion Illinois State Board of Investment has approved a commitment of $50 million to Harrison Street Real Estate Partners VI fund, managed by Harrison Street Real Estate Capital. It is the pension fund’s first commitment to Harrison Street Real Estate Capital.

The closed-end, opportunistic fund will focus its investments in medical office buildings, student housing, senior housing and self-storage assets, mainly in the United States. Harrison Street is looking at a total equity raise of $950 million by Dec. 31.

Other pension funds have previously committed to Harrison Street Real Estate Partners VI, including an allocation of $75 million by the Public Employees Retirement Association of New Mexico in August 2016.

The Illinois State Board of Investments previously committed $100 million to real estate funds in January 2016. The first commitment was an allocation of $50 million to Madison International Real Estate Liquidity Fund VI, a

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