Illinois Universities invests $120m in ‘toxic assets’

The US pension is the latest to join the government’s programme meant to jumpstart the credit markets, which CalPERS has said it will not join.

The $12 billion State Universities Retirement System of Illinois has committed $120 million to the US government’s “toxic assets” programme to unfreeze the credit markets.

The pension, which has been mulling joining the programme for several months, committed $40 million each to funds raised by a partnership between Angelo Gordon and GE Capital Real Estate; RLJ Western Management and TCW Group.