Illinois Teachers’ commits $50m to real estate
The $45.8 billion Teachers’ Retirement System of Illinois has committed $50 million to Oak Street Real Estate Capital Fund III, according to a statement.
The fund, managed by Oak Street Real Estate Capital, is seeking $400 million in equity commitments. The fund will target office, industrial and retail properties. Recent investors in the fund include the Illinois Municipal Retirement Fund and the Illinois State Board of Investment.
The pension fund has a 15 percent target allocation to real estate; its actual allocation is 12.4 percent.