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Sign in Sign up for a FREE subscriptionIMRF approves up to $150 million in real estate commitments
The board of trustees of the $42.7 billion Illinois Municipal Retirement Fund (IMRF) has approved up to $150 million in commitments to real estate, subject to legal due diligence.
The commitments will be divided between Blackstone Real Estate Debt Strategies IV ($100 million) and Rockwood Capital Real Estate Partners Fund XI ($50 million), according to a May 17 IMRF statement.
IMRF has previously allocated $924.3 million to Blackstone and $125 million to Rockwood.
IMRF’s has a 6.2 percent actual allocation to the real estate asset class — or $2.607 billion — with a target allocation of 9 percent.
