IMRF confirms $452m in commitments

The Illinois-based public pension has backed six private equity funds.

Institution: Illinois Municipal Retirement Fund
Headquarters: Oak Brook, United States
AUM: $41.50bn
Allocation to alternatives: 10.80%
Bitesize: $50-100m

Illinois Municipal Retirement Fund (IMRF) agreed to commit to six private equity funds at its March board meeting, a contact at the pension informed Private Equity International. IMRF’s commitments include stakes in three different funds managed by Inflexion Private Equity: £20 million ($26.6 million) has been committed to Inflexion Enterprise Fund V, £50 million ($66.4 million) to its accompanying co-investment vehicle Inflexion Supplemental Fund V and £150 million ($199.1m) to Inflexion Strategic Partners.

Further commitments include $100 million to Lighstpeed Venture Partners’ first diversified co-investment vehicle Lightspeed Global Opportunity Partners, $50 million to Vista Equity Partners’ recently-launched Credit Partners Fund III and $10 million to True North Fund VI.

The $41.50 billion US public pension has a 5.8 percent target allocation to private equity that currently stands at 3.8 percent.

As illustrated below, these recent private equity commitments comprise of funds with several strategies.

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