IMRF hikes target allocation to alternatives

The US public pension boosted its target exposure to alternatives ahead of the 2021 calendar year.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $44.47 billion
Allocation to alternatives (including real estate): 13.19%

Illinois Municipal Retirement Fund has increased its target allocation to alternatives from 7 percent to 10 percent as of 1 January 2021, a contact at the pension told Private Equity International.

IMRF’s alternatives portfolio is broken out into 85 percent private equity, alongside 5 percent each allocated to infrastructure, private credit and agriculture.

IMRF’s target allocations to its international equity and fixed income asset classes will decrease as a result of the pension increasing its exposure to alternatives.

The $44.47 billion US public pension had a 6.56 allocation to alternatives as of 31 October 2020, the most recently released data. Private equity made up 5.45 percent of the alternatives asset class as of this date.

IMRF’s recent private equity commitments have tended to target TMT-focused venture capital funds.

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