FUNDRAISING NEWS | September 04, 2024
The Teachers’ Retirement System of Illinois (TRS Illinois) said it approved $350M in commitments to private credit and private equity across four different funds, according to an August 20 newsletter.
In private credit, TRS Illinois allocated €100M (roughly $109M) to Park Square European Loan Partners Fund II, with Park Square Capital a new investment relationship for the pension fund.
In private equity, TRS Illinois made three commitments, the largest of which was a $175M allocation to Stone Point Capital’s middle-market buyout Trident X fund. The latest commitment adds to the $207.4M the Stamford, CT-based firm already manages for TRS Illinois.
The pension also allocated $50M to Stellex Capital Partners III, a private equity, lower-middle-market buyout fund strategy. This adds to the $46.6M in prior commitments by TRS Illinois to Stellex Capital Partners strategies.
Rounding out the private equity commitments, $15M was allocated to 5th Century Partners Fund II, a lower-middle-market buyout fund strategy. The investment with 5th Century Partners is TRS Illinois’ first with the Chicago-based firm.
TRS Illinois also said it fully redeemed its $160M investment with New York-based hedge fund Tilden Park and its $65M investment with Brevan Howard’s Co-Invest SPI and SPII funds.
As of July 31, TRS Illinois had $72.21B in assets under management.
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Jane Bailey is a Marketing Associate at Dakota.
