Illinois Teachers approves $330m for private equity

The allocations will go to three funds including an emerging manager

The Teachers' Retirement System of Illinois will commit $330 million to private equity according to meeting documents released this week.

$200 million will go to Asia Alternatives, of Hong Kong. The company focuses mainly on the Asian market for buyout, growth and expansion, venture and special situation strategies. The firm is currently in market for its latest Asia-Focused fund which has a $750 million target according to Private Equity International’s research and analytics division.

$100 million will go to Siris Capital Group based in New York. The money will be aimed at technology investments. Siris already administers $12.5 million in TRS assets as part of the Emerging Manager Program. Siris just launched its third vehicle in October, with a $1 billion target.

Finally, $30 million will go to Taurus Funds Management, of Sydney, Australia. Taurus focuses on the on precious metals sector. It manages various kinds of funds, including private equity funds, listed equity funds and hedge funds.

Other allocations in this round went to the Domestic Equity portfolio, Emerging Managers, and Global Fixed Income. Selected strategies of Pacific Investment Management Company of Newport Beach, California were added to the pension’s watch list. PIMCO currently manages a total of $2.47 billion in TRS assets.

Through October, the overall TRS portfolio posed a return of 17.4 percent, net of fees.