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Private equity, real estate to benefit from $1.1bn Illinois Teachers commitments

1 Sep 2014

chicago-city-skyline-2-1388504-mThe Illinois Teachers Retirement System (TRS) has committed $1.1bn to various investment vehicles with private equity and real estate funds set to pull in a decent-sized chunk of the allocation.

The pension fund’s latest investment update shows that it has committed $300m to Invesco‘s $5.6bn Real Estate portfolio, bringing the total TRS investment in the firm to $971m.

A further $100m has been allocated to both Baring Private Equity Asia Group and to Natural Gas Partners’ private equity portfolio, bringing the pension system’s total investment in both firms to $333.5m.

The biggest chunk of money goes to the Pacific Investment Management Company (PIMCO) with $500m set for the global asset management firm’s Fixed Income portfolio. This brings TRS’ investment in PIMCO to around $3bn.

Previously the Illinois pension fund invested $100m in venture capital fund of funds Morgan Creek Capital Management.

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