The $51.2 billion Teachers’ Retirement System (TRS) of the State of Illinois has released its real assets tactical plan for fiscal year 2021, outlining a plan to deploy a total of $920 million toward its 20 percent long-term asset allocation target for real assets.
The pension fund splits real assets into two components, which consist of real estate (core, value-add and opportunistic) and other real assets (infrastructure, timber, agriculture, and special situations).
Under the new strategy, Illinois TRS will invest a total of $440 million in opportunistic real estate strategies and $480 million in other real asset strategies.
Illinois TRS said it will look to implement the real estate allocation through separate accounts. Dave Urbanek, a spokesperson for the fund, said the pension fund cannot answer at this time where the money will be allocated, when the investments may be made, or whether the money will be allocated to existing or new relationships.
