Teachers’ Retirement System of the State of Illinois (TRS Illinois) has approved a $50m (€46.6m) commitment to Elion Industrial Fund II.
TRS Illinois told IPE Real Assets that the commitment was placed into the pension fund’s emerging manager programme for its real estate portfolio.
The investment represents the first time that the pension fund has hired Elion Partners for real estate investment.
Elion Industrial Fund II’s fundraising details are currently unknown.
Elion Partners raised $500m at the close of its Elion Industrial Fund I in August 2021. The $3.4bn real estate investment manager is known for investing in logistics real estate assets in core infill US coastal markets.
Elion Partners declined a request for comment.
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