December 15, 2023
OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $544 million in commitments within the Private Credit, Real Assets, and Private Equity asset classes.
The Board approved the following commitments, subject to satisfactory legal due diligence:
Private Credit
The following commitments are part of IMRF’s Direct Lending, Opportunistic and Distressed/Special Situations Fund Manager Search:
- Up to $100 million to AG Direct Lending Evergreen Fund, L.P.
- Up to $100 million to Atalaya A4, L.P.
- Up to $100 million to Comvest Credit Partners VII, L.P.
- Up to $50 million to Capital Spring Senior Income Fund II, L.P.
- Up to $50 million to PennantPark Credit Opportunities Fund IV, L.P
Real Assets
- Up to €100 million (approximately $109 million) to Ares European Property Enhancement Partners IV SCSP. IMRF is an existing investor in Ares real estate funds, with €420 million in aggregate commitments.
Private Equity
- Up to $35 million to Coalesce Capital Fund I, L.P. IMRF is an existing investor in Coalesce funds, with $5 million in aggregate commitments through separately managed accounts. Coalesce qualifies as a woman-owned firm per the Illinois Pension Code.
As of October 31, the total IMRF portfolio was valued at $47.9 billion.
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