SURS approves $60m commitment

The US public pension has confirmed its maiden agriculture commitment.

Institution: State Universities Retirement System of Illinois
Headquarters: Champaign, United States
AUM: $20.45 billion
Allocation to alternatives: 14.4%

State Universities Retirement System of Illinois confirmed a $60 million commitment to Homestead Capital USA Farmland Fund III at its September 2020 board meeting, according to a press release on the pension’s website.

This commitment marks SURS’ first to an agriculture fund, with the pension’s Homestead Capital investment lying within its diversified real assets portfolio. Other sub-asset classes within this portfolio include non-core real estate and infrastructure.

As of December 31, 2019, SURS’ diversified real assets portfolio comprised 2.9 percent of total assets under management, around $586 million.

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