IMRF partners with Accel-KKR

Illinois Municipal Retirement Fund has committed to two buyout funds and outlined its future alternative asset allocations.

Name: Illinois Municipal Retirement Fund
HQ: Oak Brook, US
AUM: $47.3 billion
Allocation to Alternative Investments: 10.9%

Illinois Municipal Retirement Fund has committed a total of $50 million across two Accel-KKR managed funds, according to the pension fund.

The pension fund has invested $25 million into ACCEL-KKR Emerging Buyout Partners II and Accel-KRR Capital Partners VII. Both funds, which launched in December 2022, will invest into various sectors in North America and will be seeking buyout returns.

At the December Investment Committee meeting, the pension also announced its long-term asset allocation policy. By the end of a three year period, the pension is set to increase its alternative investments portfolio from 10.9 percent to 14 percent.

IMRF’s real estate portfolio is housed within its 10.9 percent alternative investments portfolio. As of October 2022, it is valued at $5.2 billion. As illustrated below, the pension’s recent private equity commitments have focused on North American vehicles with buyout or venture capital returns.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.