Illinois Municipal commits $50m to opportunistic real estate
Starwood Global Opportunity Fund X, an opportunistic fund managed by Starwood Capital Group, has received up to $50 million, subject to satisfactory legal diligence, from the Illinois Municipal Retirement Fund. IMRF will fund this commitment from public equity investments. The two organizations already have an existing relationship asIMRF committed $20 million to Starwood Opportunity Fund IX in October 2012.
SOF X, which launched in January 2014 with a $4 billion fundraising goal, will invest in a wide variety of property types in Europe and the United States. The fund is aiming to raise $350 million by its first close in June, a total it has already raised from the state of Illinois alone, combining this commitment with the $