Illinois Teachers Boosts Commodities, Private Equity Portfolio

Feb 22 2008 | 2:05pm ET

The $41.7 billion Illinois Teachers’ Retirement System is ramping up its commodities and private equity portfolios with a slew of commitments.

The system’s board has hired Gresham Investment Management, PIMCO and Schroders’ Commodities to manage $200 million each in commodities within the real return asset class, TRS’s first real return commodities investment.

The system is also making commitments of $75 million to Advent International GPE VI, a global buyout fund; $75 million to PAI Europe V, a European buyout fund; $15 million to Kline Hawkes Growth Equity Fund, a venture capital fund focused on late-stage growth companies; and $30 million to Longitude Venture Partners, a venture capital fund focused on medical devices and biotechnology

The private equity mandates will be funded from cash and passive/enhanced index accounts.

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