Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $40.70n
Allocation to alternatives: 11.0%
Illinois Municipal Retirement Fund (IMRF) has approved $105 million in commitments to two private equity funds, according to the pension’s February Board meeting documents. $75 million has been committed to Clearlake Opportunities Partners II and $30 million committed to Versant Opportunity Fund I. Both funds are North American-focused with venture capital / growth equity strategies.
The $40.70 billion US public pension has a 5.7 percent target allocation to private equity which currently stands at 4.1 percent. Private equity makes up a proportion of IMRF’s alternative investments asset class along with unlisted infrastructure and agriculture.
As illustrated in the charts below, IMRF’s private equity investments tend to focus on North American funds with either venture capital / growth equity or buyout strategies.
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