TRS Illinois slates $50m for value-add industrial fund

The $65 billion Teachers’ Retirement System (TRS) of the State of Illinois has approved a $50 million commitment to Elion Industrial Fund II, a spokesperson for the pension fund confirmed in an email.

Elion Industrial Fund II is managed by Elion Partners, a vertically integrated institutional alternative investment manager focused on industrial and logistics real estate. The fund completed a first closing in December 2022 and raised $285.5 million against its fundraising target of $750 million.

Elion Industrial Fund II launched in November 2021. The value-add strategy fund is focused on U.S. last-mile logistics real estate, targeting core urban logistics hubs near large population centers in infill coastal markets.

This represents a new investment relationship for TRS Illinois.

At the end of calendar year 2022, TRS Illinois had an $11 billion actual allocation to real