December 17, 2021
May 2021 Investment News
OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved more than $256 million in commitments within the Private Equity and Real Estate asset classes.
The Board approved the following commitments, subject to satisfactory legal due diligence:
Private Equity
- Up to $200 million to the following Lightspeed Venture Partners funds:
- Lightspeed Opportunity Fund II, L.P. ($100 million)
- Lightspeed Venture Partners Select Fund V, L.P. ($60 million)
- Lightspeed Venture Partners XIV, L.P. ($40 million).
Real Estate
- Up to €50 million (about $56.2 million) to Ares European Real Estate Fund VI, SCSp. IMRF is an existing investor in Ares funds, totaling $388 million in aggregate commitments.
Minority Manager Program
- IMRF increased the minority investment manager goal for the Domestic Equity asset class to 10% from 5%.
- $12.8 billion or 22.6% of the IMRF portfolio is managed by minority and women owned investment management firms.
As of October 31, the total IMRF portfolio was valued at $56.6 billion.
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