IMRF confirms $200m in commitments

The US public pension backed three private equity funds in its latest round of commitments.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, US
AUM: $54.9 billion
Allocation to alternatives: 13.96%

Illinois Municipal Retirement Fund has approved $200 million-worth of commitments across three private equity funds managed by Lightspeed Venture Partners, according to the pensions board of trustees meeting.

The commitments comprised of $100 million to Lightspeed Opportunity Fund II, $60 million to Lightspeed Venture Partners Select Fund V and $40 million to Lightspeed Venture Partners XIV. These commitments bring the total capital committed to Lightspeed managed funds to $508.4 million.

IMRF has a 6.65 percent allocation to private equity. The pension’s private equity portfolio has a market value of $3.65 billion.

The $54.84 billion US public pension’s recent private equity commitments have tended to target North American vehicles focused on a variety of strategies. Buyout, distressed, venture, growth and mezzanine funds have received recent commitments from IMRF.

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