Illinois Municipal Retirement Fund (IMRF) is backing Barings Real Estate Debt Income Fund with a commitment of $150m (€138m), according to the pension fund.
The new commitment will more than double the size of the $75m real estate portfolio managed by Barings on behalf of IMRF.
According to the pension fund, the vehicle aims to provide debt for a variety of assets in the US.
Barings declined to comment, but the fund manager is active in real estate debt across office, industrial, retail, residential, life-science and hotel sectors.
IMRF has also added to its infrastructure portfolio with two commitments totaling $100m, according to the pension fund.
It has committed $75m to Partners Group Direct Infrastructure IV and $25m to the JLC Infrastructure Fund II. JLC Infrastructure is minority-owned by Illinois Municipal.
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