IMRF Investments News

OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved $405 million in commitments within the Private Markets asset classes, of which $125 million was allocated to minority- or woman-owned firms. As of March 31, 2021, $11.3 billion or 22% of IMRF’s assets are managed by minority-owned and women- owned firms.

Private Equity: $355 million in commitments

The Board approved the following commitments, subject to satisfactory legal due diligence:

• Up to $40 million to ABRY Senior Equity VI, L.P. IMRF is an existing investor in ABRY funds, totaling $273.5 million in aggregate commitments.
• Up to $50 million to Insight Partners XII, L.P. IMRF is an existing investor in Insight funds through separately managed accounts, totaling $36.5 million.
• Up to $50 million to KKR North America Fund XIII SCSp. IMRF is an existing investor in KKR funds through separately managed accounts, totaling $5 million.
• Up to $100 million to Partners Group Direct Infrastructure 2020 (USD) A, L.P. IMRF is an existing investor in Partners Group funds, totaling $100 million in aggregate commitments.
• Up to $40 million to Sterling Group Credit Fund II, L.P. IMRF is an existing investor in Sterling funds, totaling $85 million in aggregate commitments.
• Up to $75 million to Vistria Fund IV, L.P. IMRF is an existing investor in Vistria funds, totaling $181.1 million in aggregate commitments. Vistria qualifies as a minority-owned investment management firm, as defined by the Illinois Pension Code.

Real Estate: $50 million in commitments

The Board approved the following commitment, subject to satisfactory legal due diligence:

• Up to $50 million to Artemis Real Estate Partners Healthcare Fund II, L.P. IMRF is an existing investor in Artemis, totaling $500 million in aggregate commitments. Artemis qualifies as a woman-owned investment management firm, as defined by the Illinois Pension Code.

As of April 30, the total IMRF portfolio was valued at $53.1 billion.

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