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Alternative Assets  + Private Equity  + Real Estate  |  March 9, 2023
Illinois Pension Fund Adds $400M-Plus to PE Funds; Two Allocations to Real Estate Program
Joe Palmisano
By: Joe Palmisano

Illinois Pension Fund Adds $400M-Plus to PE Funds; Two Allocations to Real Estate Program

The State Universities Retirement System of Illinois (SURS) approved a $410 million allocation to a private equity co-investment vehicle, in addition to two allocations within the real assets program, at its February trustees meeting.

The $22 billion Champaign, IL-based pension system has been increasing its allocations in both real estate and private equity over the past year, including $100 million in commitments to real assets at the end of 2022.

The latest commitment is to a vehicle managed by consulting firm Aksia LLC. Previously, SURS had committed $200 million to a private equity co-investment offering managed by Aksia.

Pension officials also committed $90 million in real estate, with about $50 million going to Brasa Real Estate Fund III, while $40 million for Long Wharf Real Estate Partners VII. SURS had previously committed $40 million to each of the firm’s predecessor funds.

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State Universities Retirement System of Illinois

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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