TRSIL continues partnership with Locust Point

The US pension fund committed capital to Locust Point's third RE Debt fund.

Institution: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $63.27 billion
Allocation to private debt: 6.7%

Teachers’ Retirement System of the State of Illinois confirmed a commitment of $100 million to Locust Point Private Credit Fund III, a contact at the pension fund confirmed to Private Debt Investor.

Incorporated in 2015, Locust Point Capital is a New Jersey-headquartered asset management firm with an office in Miami. The firm specialises in direct lending to lower mid-market senior housing and care companies throughout the United States.

TRSIL has an existing relationship with Locust Point, the firm currently manages $76.4 million in TRS assets.

The US pension fund’s recent debt commitments have predominantly focused North American vehicles investing in the corporate sector.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.