Teachers’ Retirement System (TRS) of the State of Illinois has earmarked $440m (€371m) and $480m in fiscal 2021 to invest in real estate and real assets respectively.
The $53bn pension fund said it expects all the new capital planned for real estate investment in the fiscal 2021 year beginning in July, to be invested in opportunistic funds. The plan includes investing in international funds, real estate debt and some niche property types.
Illinois Teachers said the amount set aside for real assets would target a mixture of infrastructure, agricultural and timber as it believes this can provide “diversification, steady risk-adjusted returns, the potential for income stability and inflation protection”.
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