State Universities Retirement System of Illinois, Champaign, plans to raise its venture capital commitment to $400 million from the current $115 million over the next four years, said James Hacking, executive director of the $6.8 billion fund.
The increase will raise the venture capital allocation to 4% of the total fund in 2000 from the current 1.6%. All of the new commitment will go to Brinson Partners, which manages the fund's existing commitment of $115 million, of which $58 million has been invested. Funding will come from cash flow.
In venture capital, Brinson is a manager of managers. It invests in funds that invest in traditional venture capital startups and other types of equity and debt financings of privately held companies.