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Sign in Sign up for a FREE subscriptionIMRF invests in European value-added fund
The Illinois Municipal Retirement Fund (IMRF) Board of Trustees has approved a $112 million commitment to Ares European Property Enhancement Partners III, a new fund managed by Ares Management.
IMRF has an established relationship with Ares, including existing commitments of $277 million in aggregate.
The previous fund in the series, Ares European Property Enhancement Partners II, held a final close in 2017 with €665 million ($743 million) in equity commitments. It invests with a value-added strategy, targeting property investments primarily in France, Germany and the United Kingdom.
