CTPF confirms $10m commitment

The US public pension has backed a distressed vehicle.

Institution: Chicago Teachers’ Pension Fund
Headquarters: Chicago, United States
AUM: $11.11 billion
Allocation to alternatives: 13.60%
Bitesize: $10-50m

Chicago Teachers’ Pension Fund approved a $10 million commitment to MB Global Partners’ Special Opportunities Fund II at its May 2020 board meeting, a contact at the pension informed Private Debt Investor.

The distressed fund’s predecessor raised $450 million against a $600 million target.

As illustrated below, CTPF invests in private debt opportunistically, with the pension’s last known commitment to the asset class being a $35 million investment in a 2007-vintage vehicle managed by Morgan Stanley Real Estate Investing.

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