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Illinois pension fund invests $300M in core-plus real estate funds

State Universities Retirement System of Illinois is investing $200.0 million in Blackstone Group LP's Blackstone Property Partners fund and $100.0 million in The Carlyle Group LLC's Carlyle Property Investors fund, IPE Real Assets reported.

According to the report, Carlyle Property Investors is targeting a net internal rate of return of 9% to 11%.

The commitments are part of the pension fund's strategy to increase exposure to core-plus real estate opportunities.

The publication had reported in December 2017 that the Illinois retirement fund planned to redeem $400.0 million from the UBS Trumbull Property Fund and pour $300.0 million into core-plus strategies.

Blackstone declined a request for comment on the matter, the publication added.