The $40.7 billion Illinois Municipal Retirement Fund (IMRF) has committed a total of $148 million to two real estate funds, according to IMRF investment news.
IMRF committed €100 million ($113 million) to Blackstone Real Estate Partners Europe VI SCSp and $35 million to Long Wharf Real Estate Partners VI. IMRF has established relationships and exposure with both firms: Blackstone, $814 million, and Long Wharf, $43.7 million.
In addition, IMRF is required to rebid investment consulting contracts every five years. A request for proposals will begin in March 2019 and the final selection is expected in August 2019. IMRF’s current investment consultant is Callan. No further information was released.
Lastly, IMRF’s current strategic asset allocation for each class is as follows:
37 percent U.S. equity
18 percent international equity
28 percent fixed income
9 percent real estate
7 percent alternative investments
