March 26, 2021
Untitled Document
OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved about $415 million in commitments within the Private Markets asset classes, of which 12% was allocated to a minority-owned firm.
Private Equity: ~$315 million in commitments
The Board approved the following commitments, subject to satisfactory legal due diligence:
- Up to £175 million (about $245 million) to Inflexion Buyout Fund VI, LP. IMRF is an existing investor in Inflexion funds totaling £402 million in aggregate commitments.
- Up to $50 million to NMS Fund IV, LP. IMRF is an existing investor in NMS funds totaling $44.1 million in aggregate commitments. NMS qualifies as a minority-owned investment management firm, as defined by the Illinois Pension Code.
- Up to $20 million to Lightspeed Venture Partners’ LSVP SCF1, LLC. IMRF is an existing investor in Lightspeed funds totaling $493.1 million in aggregate commitments.
Real Estate: $100 million in commitments
The Board approved the following commitment, subject to satisfactory legal due diligence:
- Up to $100 million to CBRE Strategic Partners U.S. Value 9, LP. IMRF is an existing investor in CBRE totaling $312 million in aggregate commitments.
As of February 28, the total IMRF portfolio was valued at $51 billion.
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