Illinois TRS expands PE commitment

The pension system will commit $350 million to private equity

The Teachers’ Retirement System of Illinois is expanding its private equity relationships with Riverstone Holdings and Blackstone, according to recently released meeting documents.

The pension system will commit up to $200 million more from the private equity portfolio to Riverstone Holdings for energy investments.

Riverstone is currently in market with an energy debt fund and its sixth flagship fund which is targeting $7.5 billion.

Riverstone already administers $372.2 million in TRS assets.

The pension will also commit $150 million to The Blackstone Group for private equity opportunities.

Blackstone currently administers $528.8 million in TRS assets.

Illinois TRS saw a 7.1 percent net return for 2014, matching its benchmark, according to a performance report from investment consultant RVK. The private equity portfolio posted a 19.6 percent return.