Illinois Municipal Retirement Fund, Oak Brook, approved two new private equity commitments totaling up to $125 million.
The $52.3 billion pension fund's board approved commitments of up to $75 million to middle-market buyout fund Sterling Group Partners VI and up to $50 million to Clearlake Capital Partners VIII, a buyout fund managed by Clearlake Capital Group, at its Feb. 23 board meeting, spokeswoman Maureen O'Brochta said.
IMRF previously committed up to $60 million to Sterling Group Partners V in 2020 and up to $50 million to Clearlake Opportunities Partners III in 2022.
As of Sept. 30, the pension fund's actual allocation to alternative investments was 11.3%; the target is 11.5%.
