The board of trustees of the $63.1 billion Teachers’ Retirement System of the State of Illinois approved more than $1.5 billion in investment commitments during June and July, over $1 billion of which will go to alternative investments, according to a news release from the fund.
The Illinois TRS committed over $800 million to 12 private equity investments, $200 million to an investment in its real assets portfolio and up to $650 million to an investment within its global income portfolio.
Within the pension fund’s $10.4 billion private equity portfolio, TRS committed $150 million to Silver Lake Partners, which manages $685 million in TRS assets, and €130 million ($132 million) to U.K.-based TDR Capital, which currently administers €57 million in TRS assets.
Another $100 million was set aside for Baring Private Equity Asia Group’s Baring Asia Private Equity Fund VIII. Baring currently manages $340 million in TRS assets. The fund also set aside $100 million to Bregal Sagemount, which currently manages $75 million of TRS assets, and committed $60 million to Craft Ventures, which will be split evenly between the Craft Ventures IV fund and the Craft Ventures Growth II fund. Craft Ventures is a new investment relationship for the pension fund.
The pension fund committed a total of $75 million to be divided evenly among three Lightspeed Venture Partners funds: the Lightspeed Venture Partners XIV, Lightspeed Partners Select V and the Lightspeed Opportunity Fund II. Lightspeed currently administers $180 million in TRS assets. Another $75 million will go to Sunstone Partners Management, which manages $45 million in TRS assets, and $50 million has been committed to New MainStream Capital, which is a new investment relationship through TRS’ emerging manager program.
The TRS also allotted $15 million to FinTech Collective and $10 million to Insight Partners, which manage $40 million and $162 million worth of TRS assets, respectively, and $35 million to Leeds Illuminate Advisors, which is a new investment relationship for TRS. It also set aside $10 million to MaC Venture Capital, in another new investment relationship for the pension fund.
Within the TRS’ $12.4 billion real assets portfolio, the pension fund committed up to $500 million to SLR Capital, which currently manages $153 million in TRS assets, and up to $200 million to EQT Exeter, which handles $350 million in TRS assets. And within its $15.3 billion global income portfolio, the pension fund allotted $150 million to Sixth Street Advisors, which currently administers $20 million in TRS assets.
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Tags: Baring Private Equity Asia Group, Bregal Sagemount, Craft Ventures, FinTech Collective, Insight Partners, Leeds Illuminate Advisors, Lightspeed Venture Partners, MaC Venture Capital, New MainStream Capital, Silver Lake Partners, Sunstone Partners Management, TDR Capital, Teachers' Retirement System of the State of Illinois