Teachers’ Retirement System of the State of Illinois approves $500m in commitments

The US public pension has backed four private debt funds.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, United States
AUM: $51.05bn
Allocation to alternatives: 35.40%
Bitesize: $50-100m

Teachers’ Retirement System of the State of Illinois has agreed to commit a total of $500 million to four private debt funds, a contact at the pension informed Private Debt Investor.

The commitments are made up of $100 million to Taurus Mining Finance Fund II, $50 million to DCP China Credit Fund II, $50 million to Proterra Credit Fund and $300 million to Lone Star Real Estate Fund VI.

As illustrated in the charts below, the pension has made six commitments to private debt funds with a 2018 or 2019 vintage, with three focused on originating senior loans, two focused on the origination of subordinated / mezzanine debt and one specialising in the acquisition of distressed debt.

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