IMRF consolidate partnership with EnCap Investments

The US public pension has backed EnCaps Investments' latest fund and outlines future private markets allocations.

Name: Illinois Municipal Retirement Fund
HQ: Oak Brook, US
AUM: $47.3 billion
Allocation to Real Assets: 10.5%

Illinois Municipal Retirement Fund has committed $100 million to EnCap Investments’ latest real estate vehicle, EnCap Energy Transition Fund II, according to a recent press release from the pension fund.

The fund, which launched in June 2022, will invest into the North American energy sector and will seek opportunistic returns. IMRF has been a longtime investor in EnCap managed funds, including $25 million into EnCap Energy Transition Fund I and $35 million into EnCap Energy Capital Fund XI.

At the December Investment Committee meeting, the pension fund also announced its long-term asset allocation policy. By the end of a three-year period, the pension fund is set to increase its alternative investments portfolio from 10.9 percent to 14 percent, keeping its allocation to Private Real Assets at 10.5 percent.

IMRF’s infrastructure portfolio is housed within its 10.5 percent real assets portfolio. As of October 2022, it is valued at almost $5 billion. As illustrated below, the pension’s recent commitments have focused on North America vehicles with opportunistic returns.

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