IMRF Commits $440M to Alts; Terminates Emerging Markets Strategy

The Illinois Municipal Retirement Fund disclosed seven new commitments to alternatives totaling $440 million.

In private equity, $30 million was allocated to Agent Capital Fund III, $50 million to ARBY Partners X, $50 million to SK Capital Partners VI, and $60 million to Insight Partners XIII.

Within real assets, $25 million was allocated to JLC Infrastructure Fund II and $75 million to Partners Group Direct Infrastructure IV.

And in real estate, $150 million was allocated to Barings Real Estate Debt Income Fund. 

The Board also approved the full redemption of the Genesis Emerging Markets strategy. The redemption amount of $650 million will be reallocated to the NTI ACWI ex-US Index.

Wilshire assisted.

As of September 30, 2023, the $49 billion pension fund has allocated approximately 10% to private real assets, with a target allocation of 10.5%. And approximately 11.3% has been allocated to alternative investments with a target allocation of 11.5%.

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