Illinois State Board of Investments to meet real estate investment target

The $11.3 billion Illinois State Board of Investments (ISBI) will meet its target allocation of 10 percent invested in real estate by the end of 2013, according to its 2012 annual investment report. ISBI had $967.3 million, or 9 percent, invested in real estate as of June 30, 2012. In the past year, ISBI has rebalanced its portfolio to meet its real estate investment strategy targets of 80 percent core and 20 percent noncore.

ISBI’s real estate portfolio is invested mostly through interests in separate accounts, limited partnerships, trusts and other pooled investments. The real estate downturn had slowed the separate account investment pace, according to the report. ISBI’s real estate investment strategies include the purchase, development, ownership, management, rental and sale of real estate.

ISBI manages and invests assets on behalf of the General Assembly Retirement System, the Ju