August 19, 2022
August 2022 Investment News
OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $260 million in commitments within the Private Equity and Real Estate Asset classes, of which $135 million or 52% was committed to minority-owned firms.
The Board approved the following commitments, subject to satisfactory legal due diligence:
Private Equity
- Up to $50 million to Chicago Pacific Founders Fund III, L.P. IMRF is an existing investor in Chicago Pacific Founders (CPF) funds through IMRF’s separately managed accounts, totaling $7.5 million in aggregate commitments. CPF qualifies as a woman-owned firm, as defined by the Illinois Pension Code.
- Up to $20 million to Agent Capital Fund II, L.P. Agent Capital is an Asian woman-owned firm, as defined by the Illinois Pension Code.
- Up to $15 million to Red Arts Capital Opportunity Fund I, L.P. Red Arts Capital is an African American-owned firm, as defined by the Illinois Pension Code.
Real Estate
- Up to $75 million to Blackstone Real Estate Debt Strategies V, L.P. IMRF is an existing investor in Blackstone funds, totaling $1.27 billion in aggregate commitments.
- Up to $50 million to Security Capital Preferred Growth LLC. IMRF is an existing investor in Security Capital Preferred Growth funds, totaling $75 million in commitments.
- Up to $50 million to Long Wharf Real Estate Partners VII, L.P. IMRF is an existing investor in Long Wharf Real Estate Partners funds through IMRF’s direct access and fund of funds programs, totaling $78.7 million in aggregate commitments. Long Wharf qualifies as a Latino-owned investment manager, as defined by the Illinois Pension Code.
As of June 30, 2022, the total IMRF portfolio was valued at $48.4 billion.
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