IMRF Investments News

OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $300 million in commitments within the Real Assets and Alternatives asset classes, of which $75 million or 25% was committed to a minority-owned firm. The Board also approved working with Hamilton Lane to provide IMRF with Private Markets Portfolio Management software.

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

Real Assets Commitments

• Up to $125 million to Blue Owl Real Estate Fund VII L.P. IMRF is an existing investor in Blue Owl/Oak Street funds, with $275 million in aggregate commitments.

Alternatives Commitments

• Up to $75 million to Khosla Ventures Fund IX, L.P., Khosla Ventures Seed G, L.P., and Khosla Ventures Opportunity III, LP. IMRF is an existing investor in Khosla Ventures funds, with $92.6 million in aggregate commitments. Khosla Ventures qualifies as a minority-owned firm per the Illinois Pension Code.
• Up to $50 million to Charlesbank Equity Fund XI, L.P. IMRF is an existing investor in Charlesbank funds, with $64.9 million in aggregate commitments.
• Up to $50 million to Great Hill Equity Partners IX, L.P. IMRF is an existing investor in Great Hill funds, with $16.1 million in aggregate commitments.

As of March 31, 2025, the total IMRF portfolio was valued at $55.2 billion.

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