The Illinois State Universities Retirement System (SURS) voted unanimously Oct. 24 to commit the lesser of $50 million or 10 percent percent of total fund commitments to Belay Ventures Fund IV, subject to successful contract negotiations.
The targeted capital raise for Fund IV is unknown. The fund will invest in small to mid-sized transactions across various property types, including office, industrial, retail, apartments, cold storage and mixed-use projects. Belay has historically focused on markets such as Dallas, Tampa, Fla., and Southern California.
