Illinois Teachers’ confirms nearly $900m in commitments

The US public pension backed eight private debt funds in the second quarter of 2021.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $62.90 billion
Allocation to alternatives: 33.8%

Teachers’ Retirement System of the State of Illinois confirmed over $1 billion-worth of private debt commitments in Q2 2021, a contact at the pension informed Private Debt Investor.

The commitments comprised $200 million to Taconic European Credit Dislocation Fund III; $150 million to Pretium Residential Credit Fund II $125 million apiece to SLR Healthcare Lending Fund and Arbour Lane Credit Opportunity Fund III; $100 million to MBK Partners Special Situations Fund II; $75 million to BIG Real Estate Fund II; $85 million to CapitalSpring Investment Partners VI; and $25 million in a top-up commitment to Cerberus Real Estate Debt Fund.

Illinois Teachers’ allocates 5.7 percent of its total investment portfolio to private debt. The pension’s private debt investments are housed within the wider income portfolio.

The $62.9 billion US public pension’s private debt fund commitments have targeted a mix of senior, subordinated and distressed corporate and real estate debt vehicles.

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