The Illinois Teachers Retirement System, Springfield, committed and/or invested a total of $1.1 billion to both its $11.3 billion private equity portfolio and its $23 billion public equity portfolio, according to a report from the $66.4 billion pension fund's Oct. 27 board meeting.
The investment team made its largest aggregate allocation of $784 million to eight private equity money managers, one of which manages two funds.
The largest allocation was $200 million to existing manager New Mountain Capital's New Mountain Partners Fund VII. The firm currently manages $311 million for TRS.
Existing manager Altaris Capital Partners received commitments of $125 million to Altaris Health Partners Fund VI and $40 million to Altaris VI T-Co-Invest. Altaris currently manages $148 million for the teachers fund.
TRS added a $100 million commitment to existing manager NGP Natural Resources XIII. The firm currently manages $168 million for TRS.
Another $100 commitment went to Aurora Equity Partners VII, an existing manager that currently manages $49 million for TRS.
PSG, a growth equity manager, received a $75 million commitment. PSG currently manages $43 million for TRS.
Bregal Unternehmerkapital IV received an allocation of $64 million; the firm currently manages $44 million for TRS.
Elephant, a new private equity manager for the system, received a $50 million commitment.
TRS also committed $30 million to existing private equity manager FinTech Collective, which currently manages $41 million.
Two new managers also received commitments of $325 million total from the system's $23 billion public equity portfolio.
Driehaus Capital Management received $225 million, while RWC Asset Advisors (US) was awarded $100 million.
During the board meeting, trustees also approved rehiring Aksia as consultant for the firm's $3.4 billion diversifying strategies portfolio, which includes hedge funds and other strategies. The new five-year contract began on Nov. 1, said a spokeswoman.
