Illinois Municipal Retirement Fund invests $100m in Crow Holdings

The Illinois Municipal Retirement Fund (IMRF) has approved up to $510 million in commitments to five firms across the public markets, private equity and real estate asset classes. This includes a $100 million follow-on commitment to Crow Holdings Realty Partners IX, a value-add fund managed by Crow Holdings Capital.

The fund launched in November 2019 and did not disclose an equity fundraising target, according to an SEC Form D.

IMRF has previously committed $150 million to Crow Holdings.

As of Dec. 31, 2019, IMRF had a 6.6 percent actual allocation to real estate, against a 9 percent tar