Illinois Teachers’ Retirement System, Springfield, committed $50 million to Banc Funds VI, a private equity fund. Funding came from cash, said Charles Self III, chief investment officer.
The $22.6 billion system also added a total of $100 million to investments with minority-owned managers it hired in February: $50 million to Earnest Partners, split evenly between active domestic equities and active domestic fixed income; $25 million to MDL Capital Management for active domestic fixed income; and $25 million to Holland Capital Management for active domestic equities. Funding came from cash, Mr. Self said.
Trustees decided not to award the $100 million to finalist Utendahl Capital Management because of performance problems in the fourth quarter and personnel changes in Utendahl’s credit analysis unit, he said.
