IMRF Investments News

March 25, 2022
May 2021 Investment News

OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $252.4 million in commitments within the Private Equity and Real Estate asset classes, of which $105 million or 42% was committed to minority-owned firms. The Board also approved a resolution authorizing IMRF’s continued divestment of Russian assets.

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

Private Equity

Real Estate

Asset Allocation Implementation

IMRF’s new Strategic Asset Allocation Policy was authorized by the Board on February 11, 2022. Staff proposed an implementation framework to achieve compliance with the Board approved Strategic Asset Allocation Policy targets.

The Board approved the following actions, subject to satisfactory legal due diligence and suitable liquidity/market conditions:

Russian Divestment

The Board passed a resolution authorizing staff to complete the orderly and prudent divestment of any remaining Russian investments, in a manner consistent with staff’s fiduciary duties and with the goal of reducing risk and potential loss to the IMRF portfolio.


As of March 9, IMRF held approximately $23 million in Russian investments, representing about 0.04% of the total portfolio.


“The IMRF Board condemns the actions taken by Russia and applauds the multitude of global responses in the form of humanitarian aid and sanctions,” according to an excerpt from the resolution.


Report on 2021 Diverse Manager Program

2021 Minority & Emerging Investment Manager Utilization Report highlights include:


Report on 2021 Minority Broker Program

2021 Minority Broker Utilization Report highlights include:


Report on 2021 Security Lending Program

2021 Security Lending Activity Report highlights include:

As of January 31, 2022, the total IMRF portfolio was valued at $54.7 billion.