AUGUST 21, 2013

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Illinois TRS plans to invest $600 million in real estate

by Andrea Waitrovich

The $39.6 billion Teachers’ Retirement System of the State of Illinois (TRS) has increased its real estate investments for the 2013–2014 fiscal year to $600 million from the previous year’s target amount of $400 million.

Illinois TRS’s real estate commitments for the 12 months ended March 31, 2013, totaled $538 million.

The strategy for the coming year will be diversified and will target multiple risk profiles — core, value-add and opportunistic — throughout the United States, Europe and Asia. The strategy may include all property types.

The over-arching goal for the 2014 tactical plan is to bring the Illinois TRS real estate portfolio closer to its long-term target allocation for real estate of 14 percent of all assets. Currently the real estate allocation totals $4.6 billion, or 11.7 percent. For the 12-month period through March 31, 2013, the Illinois TRS

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