Illinois Municipal Retirement Fund (IMRF) has approved $120m (€103.5m) in new real estate commitments across three US funds, according to a board meeting document.
IMRF committed $50m to Artemis Real Estate Partners Fund V, a value-add fund targeting a $2.5bn capital raise to invest across industrial, residential, healthcare, hotel and self-storage assets.
The pension fund also committed $35m to Arc Capital Partners Fund II, a value-add fund targeting $450m to acquire mid-sized attainable housing, necessity retail and industrial properties.
The remaining $35m was allocated to the $400m Chicago Pacific Real Estate Fund IV, which focuses on senior housing and medical office assets in the US.
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