Illinois Municipal Retirement Fund, Oak Brook, committed up to $75 million to Vistria Fund II, a midmarket buyout fund managed by Vistria Group that targets the health-care, education and financial services industries.
The $34.7 billion pension fund previously committed $18 million to Vistria Fund I.
The IMRF board approved the commitment at a meeting Friday, on the recommendation of its investment committee.
Illinois Municipal has an 8% target allocation to alternatives investments but only a 3.6% actual allocation to the asset class.
