IMRF backs Versant, IK Funds and Harpoon Ventures

The US public pension has backed five private equity funds.

Name: Illinois Municipal Retirement Fund
HQ: Oak Brook, US
AUM: $45.5 billion
Allocation to Alternatives: 10.9%

Illinois Municipal Retirement Fund has committed a total of $192.3 million across five private equity funds, according to communications from the pension.

The pension invested $30 million in Harpoon Ventures Fund IV and $62.3 million in the IKX X Fund. Up to $100 million will be committed to Versant‘s private equity funds, bringing the pension’s total commitments to the manager to $180 million. IMRF committed $25 million to both Versant Voyageurs III and to Versant Vantage III. The remaining $50 million will be allocated to Versant Venture Capital IX.

The Illinois-headquartered pension fund’s private equity portfolio is housed within its 10.9 percent alternative investments portfolio. As of September 2022, it is valued at almost $5 billion. As illustrated below, the pension’s recent private equity commitments have focused on North America and western Europe vehicles with venture capital returns.

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