TRS Illinois confirms $400m in commitments

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

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $65.4 billion
Allocation to alternatives: 33.8%

Teachers’ Retirement System of the State of Illinois has confirmed $412 million of commitments across its private equity funds.

Within the system’s $10.6 billion private equity portfolio, six commitments were made to different institutions: $125 million to A&M Capital Partners III, a re-up of $27.5 million to Apollo Investment Fund IX, $35 million to Thomas H Lee Equity Partners IX, $150 million to TSG9, $25 million to Greenspring IL Master II and $50 million to Stepstone IL Special II, according to a recent press release.

A new investment relationship has been established between Thomas H Lee Partners and TRS, while the remaining fund managers have existing relationships with the institution. In autumn 2021, Greenspring Associates was acquired by Stepstone Group.

Within the institution’s $65.4 billion portfolio, 15.7 percent is allocated to private equity. Its recent fund commitments have predominately been in North America, focusing on growth and corporate equity.

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