Illinois Municipal Retirement Commits Up to $257M to Private Equity, Real Estate

The Illinois Municipal Retirement Fund (IMRF) has revealed new commitments in private equity and real estate. 

Within  private equity, up to $75 million was committed in aggregate to three venture capital funds managed by Khosla Ventures; Khosla Ventures VIII, Khosla Venture Seed F, and Khosla Ventures Opportunity II. In addition, up to $72 million was committed to Inflexion Partnership Capital Fund III. Lastly, up to $60 million was committed in aggregate to two venture capital funds managed by Mayfield; Mayfield Fund XVII and Mayfield Select III. 

In real estate, up to $50 million was committed to AEW Partners Real Estate Fund X, managed by AEW.

As of February 28, 2023, the $48.4 billion retirement fund allocates 10.4% to alternatives, while they target 11.5% to the asset class respectively. 

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