A number of private equity firms were the beneficiaries of a recent set of commitments made this summer by Illinois Teachers’ Retirement System. Included in the pension plan’s commitments were:
- Baring Private Equity Asia Group of Hong Kong receiving $100 million — $75 million toward its Fund VIII, and $25 million for its Fund VIII Annex, a co-investment vehicle. Baring currently manages $340 million in TRS assets.
- New York-based Bregal Sagemount receiving $100 million, adding to the $75 million it already manages for TRS.
- Craft Ventures receiving $30 million for its Growth II fund. This was part of a first-time allocation to the San Francisco-based manager which also received a $30 million commitment for its fourth venture fund.
- Leeds Illuminate Advisors, a sister fund of Leeds Equity Partners, receiving $35 million. This was a first-time commitment from TRS to the Chapel Hill, N.C.-based partnership, which launched its growth fund in 2020 with a focus on the education market.
- New MainStream Capital of New York receiving a first-time commitment of $50 million through TRS’ Emerging Manager program. NMS invests in middle market companies with an emphasis on sustainable growth trends in both the business services and healthcare services industries.
- Silver Lake Partners of Menlo Park, Calif. receiving $150 million. SLP currently manages $685 million in TRS assets.
- Growth equity firm Sunstone Partners Management of San Mateo, Calif. receiving $75 million. This comes atop the $45 million of TRS assets already being managed by Sunstone.
Illinois TRS is the 42nd largest pension system in the country, and has total assets of over $63 billion.