Illinois Municipal Retirement Fund, Oak Brook, made three new commitments totaling up to $100 million, spokeswoman Nisa D. Neely said in an email.
The $40.4 billion pension fund committed up to $50 million to growth equity fund ChrysCapital VIII and $25 million each to Lightspeed India Partners II, a venture capital fund managed by Lightspeed Venture Partners targeting India-based technology firms, and buyout fund True North Fund VI.
IMRF has previously committed a total of $90 million to five other Lightspeed funds and a combined $11 million to six Lightspeed funds through Abbott Capital Management and Pantheon Ventures, each a manager of managers. The pension fund also previously committed $3.8 million to ChrysCapital through Abbott Capital and Pantheon and $2.4 million to True North through Pantheon.
Separately, IMRF's board approved converting the active domestic fixed-income portfolio managed by Brandes Investment Partners to a core strategy from core-plus and adding $100 million to the portfolio, giving it a total of about $347 million. Funding comes from the reduction of a passive domestic core fixed-income portfolio managed by Northern Trust Asset Management, leaving it with about $1.6 billion in assets.
As of Sept. 30, the total allocation to active domestic core-plus fixed income was 9.9%, passive domestic core fixed income was 8.1%, and active domestic core fixed income was 5.6%.
