Illinois Teachers assigns $620 million to 7 managers

Illinois Teachers Retirement System, Springfield, committed or invested a total of $620 million to seven managers from the $46 billion defined benefit plan.

In private equity, trustees approved three commitments to private equity funds during a board meeting Friday: Silver Lake Partners V received a $200 million commitment; Marlin Equity Partners V, $80 million; and New Enterprise Associates 16, a venture capital fund, $50 million.

Marlin Management Co. is a new manager for the fund; TRS has $161 million invested in prior Silver Lake funds and $35 million with New Enterprise Associates, confirmed David Urbanek, a fund spokesman.

In global fixed income, $100 million was allocated to DoubleLine Capital's DoubleLine Mortgage Opportunity Fund.

Three new managers were also hired through the fund's $700 million emerging managers program.

The pension fund committed $100 million to Oak Street Real Estate Capital Fund IV and $40 million was allocated to Exeter Property Group for investment in Exeter Industrial Value Fund IV.

Finally, emerging manager Ramirez Asset Management was hired to manager a $50 million global fixed-income portfolio.