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February 17, 2017 12:00 AM

Illinois Teachers assigns $620 million to 7 managers

Christine Williamson
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    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.

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    Marlin Management closes 2 funds at total of $3.25 billion
    Illinois Teachers allocates $1.5 billion to 11 managers
    Illinois Teachers cuts 3 active equity managers
    Oak Street Real Estate Capital closes $1.25 billion fund
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