The Teachers' Retirement System of the State of Illinois (ITRS) has unveiled a commitment of up to $300 million to Starwood Capital Group via its $12.4 billion real assets portfolio, according to a recent news release.
The investment vehicle that received the investment is reported to be Starwood Value Add Fund Management. The pension fund could not be reached to comment on the investment at the time of publication.
Starwood’s funds generally take an opportunistic approach to global real estate investing, according to the firm’s website. While operating amid widely disparate economic environments over the past 30 years, Starwood’s funds have shared a focus on acquiring assets with strong potential fundamentals at a significant discount to replacement cost.
Starwood currently administers $803 million in ITRS assets.
For more information about this commitment or others,
