IMRF Investments News

OAK BROOK, Ill. – On Friday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved commitments of up to $320 million to the Real Asset and Alternative asset classes, of which $100 million or 31% was committed to women-owned and minority-owned firms.

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

Real Assets – Infrastructure

• Up to $35 million to Arc Capital Partners Fund, II L.P. IMRF is an existing investor in Arc Capital Partners, with $10 million in indirect exposure. Arc Capital Partners qualifies as a minority-owned firm per the Illinois Pension Code.
• Up to $35 million to Chicago Pacific Founders Healthcare Real Estate IV, L.P. IMRF is an existing investor in Chicago Pacific Founders, with $128.6 million in aggregate commitments. Chicago Pacific Founders qualifies as a women-owned firm per the Illinois Pension Code.
• Up to $50 million to Artemis Real Estate Partners Fund V, L.P. IMRF is an existing investor in Artemis Real Estate Partners with $1.025 billion in aggregate commitments.

Alternative Investments

• Up to $50 million to KKR Asian Fund V SCSp. IMRF is an existing investor in KKR, with $112.6 million in aggregate commitments.
• Up to $30 million to Inspired Capital Partners IV, L.P. IMRF is an existing investor in Inspired Capital Partners, with $10 million in indirect exposure. Inspired Capital qualifies as a women-owned firm per the Illinois Pension Code.
• Up to $35 million to Prairie Capital VIII, L.P. IMRF is an existing investor in Prairie Capital, with $1.6 million in indirect exposure.
• Up to $50 million in aggregate to FirstMark Capital VII, L.P. and FirstMark Capital Growth V, L.P. IMRF is an existing investor in FirstMark Capital, with $57 million in aggregate commitments.
• Up to $35 million to Lightspeed AI Renaissance Fund, L.P. IMRF is an existing investor in Lightspeed Venture Partners, with $735 million in aggregate commitments.

As of June 30, 2026, the total IMRF portfolio was valued at $65.4 billion.

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