The $50.3 billion Teachers’ Retirement System of the State of Illinois has committed equity to two real estate funds, according to investment board meeting minutes.
Illinois commitment €87 million ($99 million) to Tristan Capital Partners’ European Property Investors Special Opportunities 5 fund and $150 million to Clarion Partners sponsored Lion Industrial Trust fund.
European Property Investors Special Opportunities 5 is seeking to raise €1.5 billion ($1.75 billion), according to documents from the Texas Municipal Retirement System. The fund will primarily invest in European office, logistics, retail and residential properties.
Lion Industrial Trust is an open-end fund that invests exclusively in industrial properties in North America. Lion currently administers $406.8 million in TRS assets.
In additional news, the State of Illinois has given final approval to a $4.813 billion state contribution to the retirement system for fiscal year 2020,
