Illinois Teachers Ups Commitment To Alternatives

May 22 2009 | 9:18am ET

The $27.2 billion Teachers’ Retirement System of the State of Illinois is giving its hedge fund and private equity portfolios a boost, raising its long-term commitments to both asset classes.

Specifically, the plan will increase its allocations from 8% to 10% for p.e. and from 2.5% to 5% for absolute return. The changes were adopted following a review of the plan’s investment strategies, a study conducted every three years by TRS.

“The changes made by TRS are designed to optimize investment returns with modest risk,” said Stan Rupnik, acting executive director and chief investment officer at TRS.   “Maintaining a well constructed and diverse array of investment strategies is crucial to effectively weather long-term volatility.”

In the near term, the plan is furthering its commitments to p.e. funds with a trio allocations. TRS made a $25 million commitment to Clearlake Capital Partners, II, a p.e. fund within its emerging managers program. The plan also committed $50 million to Energy Capital Partners, II, a buyout fund focused on the power generation and energy sectors, and $100 million was awarded to Blackstone/GSO Capital Solutions Fund, a distressed debt fund.

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