November 19, 2021
May 2021 Investment News
OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $150 million in commitments within the Real Estate asset class, of which 100% was allocated to minority- or women-owned investment management firms.
The Board approved the following commitments, subject to satisfactory legal due diligence:
- Up to $100 million to Artemis Real Estate Partners Fund IV, L.P. IMRF is an existing investor in Artemis funds, totaling $525 million in aggregate commitments. Artemis qualifies as a woman-owned firm, as defined by the Illinois Pension Code.
- Up to $50 million to Basis Investment Group (BIG) Real Estate Fund II, L.P. IMRF is an existing investor in a BIG fund through its separately managed accounts, totaling $5 million in commitments. Basis qualifies as a minority- and woman-owned firm, as defined by the Illinois Pension Code.
As of September 30, Minority- and/or Women-owned Business Enterprise (MWBE) firms manage $12.1 billion or 22.1% of IMRF’s total portfolio.
As of September 30, the total IMRF portfolio was valued at $54.9 billion.
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