IMRF approves $200m in commitments

The US public pension has backed three different PE vehicles.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $43.30bn
Allocation to alternatives: 12.23%
Bitesize: $50-100m

Illinois Municipal Retirement Fund has agreed to $200 million-worth of private equity commitments, according to the pension’s November 2019 investment committee meeting materials. The commitments comprise of $75 million each to Clearlake Capital Partners VI and Valor Equity Partners V, with another $50 million committed to Vista Foundation Fund IV.

The three vehicles in question are each pursuing different investment strategies: Clearlake’s fund series focuses on distressed/turnaround investments; the Valor series targets growth capital; and Vista’s series focuses exclusively on TMT sector buyouts.

The $43.30 billion US public pension has a 4.69 percent allocation to private equity.

As illustrated below, IMRF has made 12 commitments to private equity vehicles with a 2019 vintage, which combined constitute $998 million.

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