IMRF confirms $85m in commitments

Institution: Illinois Municipal Retirement System
Headquarters: Oak Brook, US
AUM: $45.18 billion
Allocation to alternatives: 12.72%

Illinois Municipal Retirement Fund approved $85 million-worth of commitments to venture capital funds at its November 2020 investment committee meeting, a contact at the pension informed Private Equity International.

The commitments comprise $60 million to three vehicles managed by Versant Ventures alongside $25 million to Lightspeed Venture Partners’ TIPL-D SPV fund.

Versant Venture Capital VIII, Versant Vantage II and Versant Voyageurs II received commitments from IMRF. It is unclear how the $60 million in commitments is split across the three funds.

IMRF has a 5.15 percent allocation to private equity.

As illustrated below, the $45.18 billion US public pension’s recent private equity commitments have favoured venture capital and turnaround funds, predominantly focused on North America.

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