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Sign in Sign up for a FREE subscriptionIllinois SURS builds on partnership with Crow Holdings Capital
The State Universities Retirement System (SURS) of Illinois has approved a $50 million commitment to Crow Holdings Realty Partners IX, a value-add real estate fund managed by Crow Holdings Capital Partners.
Crow Holdings Realty Partners IX seeks to acquire value-add real estate assets in the United States, primarily focusing on the multifamily, convenience and gas station, industrial, retail, self-storage, and student housing sectors. The fund opened to investors in November 2019.
The investment builds on an existing relationship between SURS and Crow Holdings, a spokesperson for the fund told IREI in an email. The pension fund previously committed $35 million to Crow Holdings Realty Partners Fund VII and $20 million to Fund VIIIA.
Other investors in the fund include the Illinois Municipal Retirement Fund and the New Mexico Educational Retirement Board.
SURS has a 7.1 percent allocation to real estate and a 10 percent target to the asset class.
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