Illinois Municipal Retirement Fund (IMRF) has approved a $75m (€73m) commitment to Blackstone’s latest global real estate debt fund.

IMRF said it made the capital commitment to Blackstone Real Estate Debt Strategies V.

According to sources, Blackstone is in the early stages of raising capital for the real estate debt fund.

The manager raised $8bn for the previous fund in the series which closed in September 2020.

Blackstone declined a request for comment.

IMRF said it also issued a $50m commitment each into the Long Warf Capital-managed US value-add Long Warf Fund VII fund and the Security Capital Preferred Growth Fund.

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