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TRS Commits More Than $1.5 Billion to Investment Opportunities

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SPRINGFIELD, IL – The Teachers’ Retirement System Board of Trustees today reviewed more than $1.53 billion in investment commitments made during June and July.

The System committed $680 million and €130 million to 12 private equity opportunities, $200 million to an opportunity in the Real Assets Portfolio and up to $650 million to an opportunity in the Global Income Portfolio. The following specific investment actions were presented to the trustees during its regularly scheduled August meeting:

  • Within the System’s $10.4 billion Private Equity Portfolio:
    • A total commitment of $100 million to Baring Private Equity Asia Group, of Hong Kong. One commitment of $75 million is for Baring Asia Private Equity Fund VIII. A second commitment of $25 million is for Baring Asia Private Equity Fund VIII – Annex A. Baring currently manages $340 million in TRS assets.
    • The commitment of $100 million to Bregal Sagemount, of New York, New York. Bregal Sagemount currently manages $75 million in TRS assets.
    • A total commitment of $60 million to Craft Ventures of San Francisco, California. One commitment of $30 million is for Craft Ventures IV and a second commitment of $30 million is for Craft Ventures Growth II. This is a new investment relationship for TRS.
    • The commitment of $15 million to FinTech Collective, of New York, New York. FinTech Collective currently administers $40 million in TRS assets.
    • The commitment of $10 million to Insight Partners, of New York, New York. Insight currently manages $162 million in TRS assets.
    • The commitment of $35 million to Leeds Illuminate Advisors, of Chapel Hill, North Carolina. This is a new investment relationship for TRS.
    • A total commitment of $75 million to Lightspeed Venture Partners, of Larkspur, California. One commitment of $25 million is for Lightspeed Venture Partners XIV; one $25 million commitment is for Lightspeed Partners Select V; and a third $25 million commitment is for Lightspeed Opportunity Fund II. Lightspeed currently administers $180 million in TRS assets.
    • The commitment of $10 million to MaC Venture Capital, of Los Angeles, California. This is a new investment relationship for TRS through the System’s Emerging Manager Program.
    • The commitment of $50 million to New MainStream Capital, of New York, New York. This is a new investment relationship for TRS through the Emerging Manager Program.
    • The commitment of $150 million to Silver Lake Partners, of Menlo Park, California. Silver Lake currently administers $685 million in TRS assets. 
    • The commitment of $75 million to Sunstone Partners Management, of San Mateo, California. Sunstone currently administers $45 million in TRS assets.
    • The commitment of €130 million to TDR Capital, of London, United Kingdom. TDR currently administers €57 million in TRS assets.
       
  • Within the System’s $12.4 billion Real Assets Portfolio:
    • The commitment of up to $200 million to EQT Exeter, of Philadelphia, Pennsylvania. EQT Exeter currently administers $350 million in TRS assets.
       
  • Within the $15.3 billion Global Income Portfolio:
    • The commitment of $150 million to Sixth Street Advisors, of San Francisco, California. Sixth Street currently administers $20 million in TRS assets.
    • The commitment of up to $500 million to SLR Capital, of New York, New York. SLR currently manages $153 million in TRS assets.

About Teachers’ Retirement System

The Teachers’ Retirement System of the State of Illinois is the 42nd largest pension system in the United States, and provides retirement, disability and survivor benefits to teachers, administrators and other licensed public school personnel employed outside of Chicago. The System serves 434,000 members and had assets of $63.1 billion as of June 30, 2022.

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