IMRF approves $75m commitment

The US public pension has backed an African-American owned firm.

Illinois Municipal Retirement Fund’s board approved a commitment of up to $75 million to Vistria Fund II, subject to satisfactory legal due diligence. IMRF previously committed $18 million to Vistria Fund I.

The $36 billion US public pension has an 8 percent target allocation to private equity that currently stands at 3.9 percent.

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