Investors - MAY 6, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Illinois SURS commits $195m to noncore real estate

by Zoë Wolff

The State Universities Retirements System of Illinois has hired Franklin Real Asset Advisors to manage $90 million in an emerging manager noncore real estate fund of funds, according to recently released meeting documents. It is anticipated that $30 million will be allocated this year and $30 million each of the next two years.

Oak Street Real Estate Capital and Grosvenor Capital Management were also considered.

Separately, SURS committed $35 million each to three noncore real estate funds: Blue Vista Real Estate Partners IV, a U.S. value-added fund; Brookfield Strategic Real Estate Partners II, a global opportunistic fund that focuses on commercial properties; and Crow Holdings Realty Partners VII, a U.S. value-added fund.

The $16.9 billion pension fund has a 10 percent target allocation to real estate, 35 percent of which is earmarked for noncore investments.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy