Illinois Municipal Retirement makes $250m of real assets commitments

The Illinois Municipal Retirement Fund (IMRF) has committed $150 million to Barings Real Estate Debt Income Fund (BREDIF), $75 million to Partners Group Direct Infrastructure (PGDI) IV and $25 million to JLC Infrastructure Fund II.

Managed by Barings Real Estate, BREDIF opened in 2021 and is investing in real estate debt in the United States.

PGDI IV is managed by the New York–based Partners Group and is investing globally in core-plus and value-add opportunities in infrastructure sectors such as communications, energy, logistics, power, renewables, social infrastructure, transportation, waste and water.

In February 2022, PGDI IV’s predecessor fund, PGDI III, closed with $6.4 billion of commitments, according to Bloomberg.

JLC Infrastructure Fund II, which is seeking $750 million of capital and is managed by MJE-Loop Capital Partners, will invest in value-add infrastructure opportunities, with a roughly 50:50 split between greenfield public-private pa