Teachers’ Retirement System of the State of Illinois (Illinois Teachers) has committed $300m (€288.6m) to a Principal Real Estate Investors-managed US data centre fund and a US residential credit fund managed by Pretium.

The pension fund said it has approved a $100m commitment to the Principal Data Center Growth and Income Fund and placed $200m into the Pretium Residential Credit Fund III.

SEC filing shows that Principal Real Estate Investors had raised $1.64bn for its data centre fund as of July 2024.

The data centre fund plans to acquire existing assets and explore new development opportunities in the US, with a focus on active markets in the Midwest and Southwest.

The fundraising target for the Pretium fund is currently unknown. Pretium’s Fund II, the previous fund in the series, raised $1.7bn at its close in April 2022.

Fund III will target US residential mortgages in the non-traditional market, which are less adequately served by traditional banks.

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