Illinois Retirement Fund commits $150m to two real estate funds

The Illinois Municipal Retirement Fund (IMRF) has committed $100 million to Starwood Distressed Opportunity Fund XIII and $50 million to Grandview III.

Starwood Distressed Opportunity Fund XIII, managed by Starwood Capital Group, is seeking to raise $10 billion to invest globally and opportunistically in a diverse range of real estate sectors.

Managed by Grandview Partners, Grandview III is a closed-end fund that will invest in a diverse array of property sectors in the United States, including in industrial, hotel, office and residential.

IMRF has invested in other Starwood Capital Group funds, including a $100 million commitment to Starwood Distressed Opportunity Fund XII Global in 2020 and a $75 million commitment to Starwood Opportunity Fund XI Global in 2016.

For more information about these commitments or other funds, please visit our IREI.Q database.