Illinois SURS makes $100m follow-on to Carlyle Property Investors

The Illinois State Universities Retirement System (SURS) has made a $100 million follow-on commitment to the open-end vehicle, Carlyle Property Investors (CPI), managed by The Carlyle Group.

A spokesperson for the pension fund said SURS previously committed $100 million to CPI in 2018.

CPI was launched in 2015 with an investment focus on the U.S. multifamily and senior housing property markets. The vehicle had raised nearly $3 billion as of July 2020, according to a record of Form D filings. SURS spokespeople were not able to comment on its current fundraising status.

Some of the investors that contributed to CPI’s fundraise in 2020 include the Ohio Public Employees Retirement System, Tennessee Consolidated Retirement System, and Connecticut Retirement Plans and Trust Funds.

As of Dec. 31, 2020, SURS core real assets allocation, which includes real estate, was 4.4 percent — or $