May 17, 2019
Untitled Document
OAK BROOK, Ill. – May 2017, 2019 – Today, the Illinois Municipal Retirement Fund’s (IMRF) Board of Trustees approved multiple recommendations, subject to satisfactory legal due diligence.
Private Equity, $256 million in commitments
The Board approved commitments to the following:
- Up to €50 million (approximately $56 million) to The IK IX Fund
- Board authorized a revised commitment of up to $200 million to the HarbourVest 2019 Global Fund, L.P. subject to satisfactory legal due diligence. The original recommendation authorized an evergreen separate account with HarbourVest Partners, with an initial commitment of up to $200 million and additional annual commitments consistent with IMRF’s Strategic Plan, subject to satisfactory legal due diligence, in May 2018.
IMRF has an established relationship and exposure to IK of €6.1 million through the Pantheon separately managed account.
Real Estate, $150 million in commitments
The Board approved commitments to the following:
- Up to $100 million to Blackstone Real Estate Debt Strategies IV, L.P.
- Up to $50 million to Rockwood Capital Real Estate Partners Fund XI, L.P.
IMRF has established relationships and exposure to both firms: $924.3 million in aggregate to Blackstone and $125 million in aggregate to Rockwood.
As of April 30, the IMRF total portfolio was valued at $42.7 billion.
###
