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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