Illinois Municipal has committed $150M to Alts; Increases Fixed Income Minority Manager Target

The Illinois Municipal Retirement Fund (IMRF) has revealed three commitments that were approved at the February 2 meeting. 

In real estate, $50 million was committed to Brasa Real Estate Fund III, which is managed by Brasa Capital Management.

In addition, $100 million was split between two buyout funds. $50 million was allocated to STG Fund VII, a private equity fund managed by Symphony Technology Group, and $50 million to Parthenon Investors VII, a private equity fund managed by Parthenon Capital. 

Also at the meeting, the IMRF board gave approval to increase the minority investment manager goal for the Fixed Income asset class to 40% from 35%. 

As of December 31, 2022 the total IMRF portfolio was valued at $47.9 billion.

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