IMRF Investments News

OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved up to $405 million in commitments within the Real Assets and Alternatives asset classes, of which $180 million or 44% was committed to a minority-owned firm.

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

Real Assets Commitments

• Up to $25 million to Partners Group Direct Infrastructure Fund IV, L.P., IMRF is an existing investor in Partners Group, with $275 million in aggregate commitments.

Alternatives Commitments

• Up to $75 million to OceanSound Partners Fund III, L.P., IMRF is an existing investor in OceanSound Partners, with $9.3 million in aggregate commitments. OceanSound qualifies as a minority-owned firm per the Illinois Pension Code.
• Up to $30 million to Harpoon Ventures Fund IV L.P., IMRF is an existing investor in Harpoon Ventures, with $67.5 million in aggregate commitments. Harpoon Ventures qualifies as a veteran-owned firm per the Illinois Pension Code.
• Up to $125 million to Blue Owl Special Opportunities Fund IX, L.P., IMRF is an existing investor in Blue Owl, with $106 million in aggregate commitments.
• Up to $75 million to MC Credit Fund IV, L.P., IMRF is an existing investor in MC Credit Partners, with $80.4 million in aggregate commitments. MC Credit qualifies as a minority-owned firm per the Illinois Pension Code.
• Up to $75 million to TPG Twin Brook Direct Lending Evergreen Fund, L.P. IMRF is an existing investor in TPG, with $105.7 million in aggregate commitments.

As of September 30, 2025, the total IMRF portfolio was valued at $60.2 billion.

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