SURS approves $30 million top-up commitment

The Illinois-based public pension has increased its commitment to Dune Real Estate Fund IV.

Institution: State Universities Retirement System of Illinois
Headquarters: Champaign, United States
AUM: $19.09bn
Allocation to alternatives: 20.80%
Bitesize: $50-100m

State Universities Retirement System of Illinois (SURS) has approved a top-up commitment of $30 million to Dune Real Estate Fund IV, according to the pension’s website. SURS previously committed $20 million to the fund in September 2018, with the pension’s commitment now totalling $50 million.

Dune Real Estate Fund IV focuses on acquiring distressed debt used to finance opportunistic property.

As illustrated in the charts below, this is SURS’ first commitment to a debt fund since its commitment to Dune Real Estate Partners IV’s predecessor in 2013.

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