Illinois Teachers’ Retirement System, Springfield, disclosed manager hires, investments and commitments totaling $1.7 billion.
The $74 billion pension fund’s investment staff disclosed the actions at its Oct. 25 meeting, a spokeswoman said.
Within the pension fund’s $21.4 billion global income portfolio, TRS hired Brown Brothers Harriman, TCW Group and Longfellow Investment Management to run $400 million, $400 million and $200 million, respectively, in active domestic core-plus fixed income portfolios. Funding comes from rebalancing, the spokesperson said.
Also in global income, TRS invested an additional $250 million in Cerberus 2112 Loan Opportunities Fund LLC, a credit special situations fund managed by Cerberus Capital Management. As of June 30, 2023, the pension fund had $425 million invested in the fund, according to its most recent comprehensive financial annual report.
Within the pension fund’s $12.4 billion real assets portfolio, TRS committed $300 million to Carlyle Realty Partners X, an opportunistic real estate fund managed by Carlyle Group.
Within the $12.4 billion private equity portfolio, TRS committed $65 million to growth equity fund Insight Partners Fund XIII; €30 million ($33 million) to BlackFin Financial Services Fund IV, a pan-European small-cap private equity fund managed by BlackFin Capital Partners; $30 million to lower-middle-market buyout fund Mill Point Capital Partners III; and $17 million to QEP VIII Co-Invest Fund, an energy private equity co-investment fund managed by Quantum Energy Partners.