May 29, 2020
Untitled Document
OAK BROOK, Ill. –On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $82.5 million in commitments to three firms across the private equity and real estate asset classes, subject to satisfactory legal due diligence.
Private Equity: $32.5 million in commitments, pending satisfactory legal diligence.
The Board approved commitments to the following:
- Up to $25 million to Lightspeed India Partners III, L.L.C. IMRF has established investment relationships with Lightspeed Venture Partners through multiple direct and indirect commitments totaling $436.8 million.
- Up to $7.5 million to Harpoon Ventures II, L.P. Harpoon qualifies as a firm owned by a person with a disability, as defined by the Illinois Pension Code. IMRF has an established indirect investment relationship with Harpoon through Lightspeed Venture Partners.
Real Estate: $50 million in commitments, pending satisfactory legal diligence.
The Board approved commitments to the following:
- Up to $50 million to AEW Partners Real Estate Fund IX, L.P. IMRF has an established relationship with AEW, including existing commitments of $314 million in aggregate.
As of April 30, the IMRF total portfolio was valued at $41.1 billion, of which 23.3% or $9.5 billion was managed by firms owned by minorities, women or persons with a disability.
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