Teachers’ Retirement System of the State of Illinois has approved $305m (€263.5m) in commitments to an infrastructure fund managed by Brookfield Asset Management, and to real estate funds managed by Neuberger Berman and Sagehall Management.

The pension fund said it has placed $200m into Brookfield Infrastructure Debt IV, placed $75m into the Neuberger Berman Real Estate Securities Fund II and committed $30m to the Sagehall Real Estate Fund II US fund.

As of its first-quarter 2025 earnings report, Brookfield said the fund’s capital had reached $2bn. The fund, which will provide mezzanine loans on core assets, has a global strategy to invest capital in both the US and Europe, focusing on transactions in the transportation, renewable power, utilities, energy and data sectors.

The Neuberger Berman real estate fund employs a secondaries investment strategy. The fund aims to acquire limited partnership interests in mature US or European real estate funds from existing limited partners and to invest in incumbent third-party real estate managers.

Illinois Teachers considers Sagehall Management an emerging manager. The fund will invest in underperforming real estate assets, primarily focusing on the New York City area. Capital will be allocated across a mixture of property types, including residential, retail, industrial and office.

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