DECEMBER 12, 2012

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Illinois Teachers commits $50 million to China fund, makes new hires

by Andrea Waitrovich

The $37.5 billion Teachers’ Retirement System of the State of Illinois commits $50 million to Gateway Real Estate Fund IV, an opportunistic, value-added fund managed by Hong Kong–based private equity real estate firm Gaw Capital Partners.


Gateway Real Estate Fund IV has a $700 million fund-raising goal, making it one of the largest real estate funds to be launched during second quarter 2012. A final close date was not disclosed. The fund plans to invest in various properties in Hong Kong, China, Macau, Taiwan and other Asian countries.

The fund’s predecessors — Gateway China Fund I, Gateway Capital Real Estate Fund II and Gateway Capital Real Estate Fund III — have total equity of more than $1.5 billion. Gateway Capital Real Estate Fund III held a $423.5 million close in 2010.

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