To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionIMRF joins number of U.S. pension funds in backing AEW IX
At its May 28 investment committee meeting, Illinois Municipal Retirement Fund (IMRF) approved a commitment of up to $50 million to the AEW Partners Real Estate Fund IX, an opportunistic fund managed by AEW Capital Management.
AEW IX will target multifamily assets throughout North America. The fund is seeking to raise $750 million in equity commitments.
The fund completed a first close in May with $302 million in capital. A number of U.S. pension funds contributed to the fundraise, including the Alameda County (Calif.) Employees’ Retirement Association, Wayne County (Mich.) Employees’ Retirement System, Public Employees’ Retirement System of Mississippi, and the Ohio Police & Fire Pension Fund.
