Illinois Pension Fund Approves $315M to Private Markets 

The Illinois Municipal Retirement Fund (IMRF) added another $315 million to its private markets’ portfolio at a recent board of trustees meeting. 

Officials at the $49.9 billion state pension approved $205 million to private equity and $110 million to real assets. The moves follow an approved investment policy in February that decreased the maximum commitment to any one private real asset or alternatives investment manager to 35% from 40%. In recent months, real estate and private equity investments have been added to the portfolio. 

The fund’s private equity allocations include up to $75 million to Vistria Fund V, L.P. IMRF is an existing investor in Vistria funds with $268.9 million in aggregate commitments; up to $50 million to KKR Ascendant Fund SCSP. IMRF has committed $57.7 million to KKR funds; up to $50 million to H.I.G. Bayside Loan Opportunity Fund VIII, L.P. IMRF has made $47.2 million in aggregate commitments to H.I.G. funds. 

The fund’s real assets allocations include up to $75 million to Crow Holding Realty Partners X, L.P. IMRF has allocated $293.1 million to Crow funds; and up to $35 million to EnCap Energy Capital Fund XII, L.P. IMRF has deployed $160 million in aggregate commitments to EnCap funds. 

Connect with Nexpoint Advisors, L.P. Chief Market Strategist Mike Hurley, CMT by joining us at the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center.