Illinois Muni commits to pair of private equity firms

Illinois Municipal Retirement Fund, Oak Brook, committed up to $25 million each to private equity managers ICV Capital Partners and ABRY Partners, according to John Krupa, IMRF senior communications specialist.

The $26.8 billion pension fund committed $20 million to ICV III and up to $5 million to a co-investment vehicle with ICV. Up to $25 million was committed to ABRY Senior Equity IV.

The commitments are subject to due diligence.

The pension fund had a 6% target allocation to alternative investments and an actual allocation of 3.9%, or $1 billion, including $505 million in private equity, as of Aug. 31, according to an IMRF report.