Illinois Teachers' Retirement System, Springfield, committed or invested a total of $3.4 billion to 27 managers, investment officers told trustees during a board meeting Thursday.
The pension fund's preliminary assets under management totaled $62.9 billion as of June 30.
The manager assignments occurred between Feb. 5 and July 22, said David Urbanek, the pension fund's spokesman, in an email.
A report from the retirement system showed the pension fund's $15.7 billion global fixed-income portfolio had the largest aggregate allocation — $1.5 billion — which went to 12 managers.
Aksia, the system's credit consultant, was awarded a $250 million commitment to manage a customized manager-of-managers credit fund. This is TRS' first investment with Aksia.
Existing manager Pacific Investment Management Co. received a $250 million commitment with $150 million going to PIMCO Bravo Fund IV, a new fund. The remaining $100 million was an additional allocation to TRS' investment in the PIMCO Horseshoe Fund.
Apollo Global Management, an existing manager, was given an additional commitment of $175 million for investment in the Apollo Lincoln Fixed Income Fund.
Beach Point Capital Management was awarded $150 million additional commitment for investment in Beach Point Sangamon Fund, a separately managed account.
New manager Pretium Partners received a $150 million commitment to Pretium Residential Credit Fund II.
A $125 million commitment was made to Arbour Lane Capital Management, new manager for TRS, for Arbour Lane Credit Opportunity Fund III.
Existing manager SLR Capital Partners received a $125 million commitment to SLR Healthcare Lending Fund.
CapitalSpring, a new manager, was awarded an $85 million commitment to CapitalSpring Investment Partners VI.
TRS committed $75 million to existing manager Basis Investment Group for BIG Real Estate Fund II.
PGIM, an existing TRS manager, received a $75 million commitment to PGIM Credit Opportunities Fund.
Existing managers Cerberus Capital Management and TerraCotta Group each received additional $25 commitments to Cerberus Real Estate Debt Fund and TerraCotta Credit Fund, respectively.
Illinois Teachers' investment team committed a total of $824 million to nine managers from the pension fund's $9.2 billion private equity/venture capital portfolio, the report showed.
Existing manager TA Associates received the largest commitment — $175 million — $125 million earmarked for TA XIV and $50 million was committed to TA Select Opportunities Fund II.
TRS committed $150 million to Stone Point Capital, an existing manager, for Trident X.
Insight Partners, an existing manager, received a $100 million commitment to Insight Partners XII.
Another existing manager, MBK Partners, was awarded a $100 million commitment to MBK Partners Special Situations Holdings II.
Thomas H. Lee Partners, a new manager for TRS, received a $100 million commitment to Thomas H. Lee Equity Fund IX.
Another new manager, Providence Equity, received a $75 million commitment to Providence Strategic Growth V.
TRS committed €50 million ($59 million) to new manager Bregal UnternehmerKapital for Bregal UnternehmerKapital III.
FinTech Collective, a new manager, was awarded $40 million for FinTech Collective Fund II.
The last commitment from the private equity/venture capital portfolio was a $25 million commitment to new manager Avance Investment Management, for Avance Investment Partners.
TRS investment staff committed a total of $750 million to three managers from the system's $9.1 billion real assets portfolio, with the largest commitment — up to $300 million — going to existing manager Carlyle Group for Carlyle Realty Partners IX.
Existing manager Walton Street Capital was given a $250 million commitment to Walton Street Real Estate Core-Plus Fund.
New manager KKR & Co. received a commitment of up to $200 million to KKR Real Estate Partners Americas III.
From the pension fund's $5.6 billion diversifying strategies portfolio, which includes hedge funds and absolute-return strategies, the system invested a total of $400 million, which was divided evenly between two new managers, the report said.
Maniyar Capital Advisors' $200 million was invested in Maniyar Macro Fund and Taconic Capital Advisors' portion was invested in Taconic European Credit Dislocation Fund II.
TRS redeemed $115 million from hedge fund manager Tilden Park Capital Management, reducing the firm's allocation to $177 million.
Mr. Urbanek said the Tilden Park account doesn't have a specific name.
Separately, after a search that began in February, TRS trustees approved hiring Lenox Park Solutions, to develop a standardized scoring tool for diversity, equity and inclusion to analyze potential and existing money managers.
TRS said in a news release that the engagement with Lenox Park "is part of a broader reimagining of the system's successful diversity efforts that include an increase in diversity hiring across asset classes; an update of internal diversity selection metrics; and better measurement and monitoring of diversity and inclusion practices within money managers."
