Illinois Police Officers' Pension Investment Fund commits $250m to TA Realty Value-Add Fund XIV
The pension fund had $16.5 billion in assets as of June 30 and a 5 percent real estate target; the commitment is about 30 percent of that implied allocation.
At a glance
Fund XIV is a closed-end, value-added strategy focused on industrial, office and multifamily assets and grocery-anchored shopping centers in major U.S. markets.
The pension fund's $16.5 billion in assets and 5 percent real estate target imply a real estate program of roughly $825 million.
The Illinois Police Officers' Pension Investment Fund has committed $250 million to TA Realty Value-Add Fund XIV, IREI reported on Oct. 22.
Fund XIV is a closed-end, value-added strategy focused on industrial, office and multifamily assets and grocery-anchored shopping centers in major U.S. markets. IREI's Ask IRE.IQ service flags grocery-anchored retail, citing healthy fundamentals in necessity-based retail subsectors.
Two other public retirement systems have committed in recent months, according to IREI: the San Francisco Employees' Retirement System and the Teachers' Retirement System of Louisiana.
The pension fund's $16.5 billion in assets and 5 percent real estate target imply a real estate program of roughly $825 million. The $250 million commitment would be about 30 percent of that implied amount.
Fund XIV's predecessor, TA Realty Value-Add Fund XIII, closed with $1.8 billion in equity. IREI reports that no fundraising goal has been determined for Fund XIV.
Save this analysis and keep the funds you follow together in My Desk.
Sign in to save articles or follow funds.
AllocatorsJ.P. Morgan Asset Management forecasts 8.1% annualized U.S. core real estate returns
AllocatorsInstitutional real estate commitments rise 75% over three fiscal years, IREI says
The Wrap