Investors - MAY 23, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Illinois Municipal commits $100m to real estate

by Zoë Wolff

The $1.75 billion Illinois Municipal Retirement Fund has committed $100 million to two real estate funds, according to recent meeting documents.

The pension fund has committed $75 million to Starwood Global Opportunity Fund XI, managed by Starwood Capital Group. IMRF invested $50 million in Starwood Global Opportunity Fund X, the fund’s predecessor, which held a final close of $5.6 billion in March 2015. The fund series focuses on acquiring, developing and repositioning high-quality assets in major markets.

Additionally, IMRF has committed $25 million to Artemis Real Estate Partners Healthcare Fund I. The fund had raised $75 million as of January 2016, according to a filing with the SEC. The core-plus fund is seeking to raise $300 million to invest in healthcare-related real estate, including senior housing and medical office properties.

Illinois Municipal has an 8 percent target allocation to real estate and a 5.1 percent actual allocation to t

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy