Investors - JUNE 3, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

IMRF commits up to $200 million in Blackstone funds

by Sara Kassabian

The $30 billion Illinois Municipal Retirement Fund (IMRF) has committed approximately $200 million to two real estate funds sponsored by The Blackstone Group.

John Krupa, spokesperson for the pension fund, says the IMRF board of trustees approved the commitments in a meeting May 31. Subject to satisfactory due diligence, up to $100 million each was allocated to Blackstone Real Estate Partners Asia and Blackstone Real Estate Debt Strategies II (BREDS II). IMRF is an existing investor in Blackstone Real Estate Fund VII, which raised $13.3 billion and closed in 2012.

Blackstone Real Estate Partners Asia launched in January 2013 and has a $3.5 billion fundraising target. The opportunistic fu

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy