Illinois Teachers’ approves $75m in commitments

The US public pension has backed a pair of private debt vehicles.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $52.92 billion
Allocation to alternatives: 30.3%

Teachers’ Retirement System of the State of Illinois has confirmed $75 million-worth of private debt commitments across two vehicles, a contact at the pension informed Private Debt Investor.

The commitments comprise $50 million to Stellex Capital Partners II and a $25 million top-up commitment to Taurus Mining Finance Fund II. Illinois Teachers’ previously committed $100 million to the fund in June 2019.

The $52.92 billion US public pension invests in private debt out of its 29.2 percent income portfolio. Private debt makes up just over a quarter of the portfolio’s investments.

As illustrated below, Illinois Teachers’ invests in private debt through senior, subordinated and distressed debt vehicles predominantly focused on North America.

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