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.
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