FOR IMMEDIATE RELEASE
SPRINGFIELD, IL – The Teachers’ Retirement System of the State of Illinois (TRS) has reached an important milestone in its five-year strategic plan. As we enter the midpoint of the plan, our focus is clear: growth—of our people, our capabilities and the value we deliver to members, employers and the public education community we serve.
This year’s efforts center on building long-term strength across the organization. TRS is expanding its workforce, deepening staff development efforts and aligning its resources with the future needs of the System. With renewed energy and purpose, TRS is embracing the opportunities that come with change, while staying grounded in the core values that have long guided our mission.
“We’re focused on growing the right way—by investing in our people, strengthening our foundation and driving progress that will benefit our members well into the future,” said TRS Executive Director and Chief Investment Officer Stan Rupnik. “The work ahead is significant, but so is our commitment. We’re building a TRS that’s not only prepared for what’s next but is actively shaping it.”
This forward momentum also supports the investment strategy that underpins TRS’s long-term financial strength. The System’s ongoing work reflects a clear sense of direction, anchored in long-term vision and built to deliver lasting value.
The TRS Board of Trustees met at its regularly scheduled meeting and discussed the following investment actions within the TRS portfolio:
The Trustees approved the annual tactical plans for the System’s Private Equity and Real Assets Programs.
Within the System’s $13.0 billion Private Equity Portfolio:
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The commitment of €30 million to Sterling Investment Partners of Greenwich, CT. Sterling is a new relationship for TRS.
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The commitment of $65 million to Charlesbank Capital Partners of Boston, MA. Charlesbank currently manages $110.2 million in TRS assets.
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The commitment of $150 million to Arlington Capital Partners of Bethesda, MD. Arlington currently manages $269.4 million in TRS assets.
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The commitment of $30 million to Sofinnova Ventures of Menlo Park, CA. Sofinnova currently manages $35.6 in TRS assets.
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The commitment of $110 million to Advent International of London. Advent currently manages $127.6 million in TRS assets.
Within the $12.7 billion Real Assets Portfolio:
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The commitment of $100 million to Covenant Capital Group of Nashville, TN. Covenant is a new relationship for TRS.
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The commitment of $200 million to Blackstone Partners of New York. Blackstone currently manages $1.5 billion in TRS assets.
About Teachers' Retirement System of the State of Illinois
The Teachers’ Retirement System of the State of Illinois is the 38th largest pension system in the United States, and provides retirement, disability and survivor benefits to teachers, administrators and other public-school personnel employed outside of Chicago. The System serves over 456,000 members and had assets of $76.77 billion as of June 30, 2025.