OAK BROOK, Ill. – Today, the Illinois Municipal Retirement Fund’s (IMRF) Board of Trustees approved multiple recommendations, subject to satisfactory legal due diligence.
Private Equity
The Board approved commitments to the following:
- $75 million to Clearlake Opportunities Partners II, L.P.
- $30 million to Versant Opportunity Fund I, L.P.
IMRF has established relationships and exposure with both firms: Clearlake, $29.2 million and Versant, $110 million.
Real Estate
The Board approved commitments to the following:
- €100 million to Blackstone Real Estate Partners Europe VI SCSp
- $35 million to Long Wharf Real Estate Partners VI, L.P.
IMRF has established relationships and exposure with both firms: Blackstone, $814 million and Long Wharf, $43.7 million.
Asset Allocation Review
The annual review of the asset allocation was conducted and the Board reaffirmed the current strategic asset allocation:
- 37% U.S. Equity
- 18% International Equity
- 28% Fixed Income
- 9% Real Estate
- 7% Alternative Investments
- 1% Cash
Investment Committee Charter & Policies
The Board approved the 2019 Investment Committee Charter, 2019 Statement of Investment Policy and 2019 Real Estate Statement of Investment Policy. The charter and policies are available to view on our website.
Investment Consultant Search
The Illinois Pension Code requires IMRF to rebid investment consulting contracts every five years. The request for proposals begins in March 2019 and the final selection is expected in August 2019.
Emerging Manager Program
Staff presented the annual review of the Minority Manager and Brokerage Programs. During 2018, IMRF allocated over $2.1 billion to Minority owned firms across all major asset classes. As of December 31, 2018, Minority owned firms managed $8.7 billion or 22.6% of IMRF’s total portfolio. Minority owned brokers earned $4.0 million or 28% of all equity commissions.
As of January 31, 2018, the IMRF total portfolio was valued at $40.7 billion.
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