Illinois Teachers’ confirms $50m commitment

The US public pension has backed SCP's 2018-vintage corporate debt fund.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $53.24bn
Allocation to alternatives: 31.20%
Bitesize: $50-100m

Teachers’ Retirement System of the State of Illinois has approved a $50 million to Solar Capital Partners’ Private Corporate Lending Fund, a contact at the pension informed Private Debt Investor. The fund will provide middle market companies in the US with senior secured loans.

The $53.24 billion US public pension has a 4.30 percent allocation to private debt.

As illustrated below, Illinois Teachers’ has made eight commitments to private debt funds with a 2018 or 2019 vintage, which combined constitute $825 million.

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