TRS Illinois backs BVP

The US pension fund committed $50m to Bessemer Partner's flagship fund.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $63.63 billion
Allocations to Private Equity: 15.9%

Teachers’ Retirement System of the State of Illinois has made a commitment of $50 million to Bessemer Venture Partners XII, a contact at the pension fund confirmed to Private Equity International.

Founded in 1911, Bessemer Venture Partners is an asset manager based in California, US. The firm makes investments in private equity across the globe.

TRSIL’s current allocation to PE stands at 15.9 percent, which is above the 15 percent target allocation for the asset class.

The pension system’s recent commitments are predominantly focused on global venture capital vehicles, as shown below.

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