Teachers’ Retirement System of the State of Illinois has made real assets commitments totalling $315m €274.8m) to infrastructure funds managed by KKR and JP Morgan, as well as real estate funds managed by Caro Investors Management, Kayne Anderson and Arc Capital Partners.
Illinois Teachers said it has made a follow-on commitment of $180m to the KKR Diversified Core Infrastructure Fund.
KKR disclosed in its first-quarter 2026 earnings report that the open-ended, OECD-focused vehicle had $14.3bn in total commitments, with $2bn uncalled and a remaining value of $13.5bn.
The pension fund has backed three new managers, committing $35m to Caro Real Estate Credit Fund and $25m each to Kayne Anderson Real Estate Partners VII and Arc Capital Partners Fund II.
The Caro vehicle invests in US mid-market commercial real estate debt, while the Arc fund targets mid-market value-add opportunities.
Illinois Teachers also committed $50m to JP Morgan’s open-ended Global Transport Income Fund.
Established in 2017, the fund targets a net internal rate of return of 8% to 10% through investments in aviation, rail and shipping logistics assets.
To read the latest IPE Real Assets magazine click here.
