Illinois Teachers’ approves $69m in commitments

The US public pension has backed two early-stage tech-focused private equity funds.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $52.16bn
Allocation to alternatives: 29.80%
Bitesize: $50-100m

Teachers’ Retirement System of the State of Illinois has approved $69 million worth of private equity commitments to two vehicles, a contact at the pension informed Private Equity International. The commitments comprise of $45 million to venture capital fund ZMC III and $24 million to growth fund Sunstone Partners II.

The $52.16 billion US public pension has a 15.0 percent target allocation to private equity that currently stands at 12.90 percent.

As illustrated below, Illinois Teachers’ has committed to ten private equity funds with a 2019 vintage, which combined constitute $689 million.

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