Illinois Teachers increases real estate allocation
The $42.75 billion Illinois Teachers’ Retirement System has increased the allocation to its $5.1 billion real estate portfolio. During its February meeting, the trustees approved an increase to three of the retirement system’s external property managers for a total of $350 million.
The goal is to increase TRS’ long-term real estate allocation to 14 percent of the entire investment portfolio from the current 11.7 percent.
Capri Capital Partners, which currently manages $1 billion in TRS assets, will receive an additional $125 million. Invesco Real Estate, which currently manages $456.6 million in TRS assets, will receive an additional $125 million.