OAK BROOK, Ill. – Today, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved multiple investment recommendations, subject to satisfactory legal due diligence.
Private Equity
The Board approved the following commitments, up to:
- $25 million to Lightspeed India Partners II, LLC
- $50 million to ChrysCapital Fund VIII, LLC
- $25 million to True North Fund VI, LLP
IMRF has existing relationships with Lightspeed: $90 million directly across six investment vehicles; and separate account managers have invested $11 million across six investment vehicles. Exposure to ChrysCapital includes $3.8 million through the Abbott and Pantheon private equity separate accounts. IMRF will have a $2.4 million exposure to True North through the Pantheon separate account.
Fixed Income
The Board approved the following recommendations:
- Conversion of the Brandes Core Plus Fixed Income mandate to a Core Fixed Income mandate
- Approximately $246.4 million as of October 31, 2017
- Additional allocation of $100 million to Brandes Core Fixed Income funded from NTGI MSCI EAFE Index account
In total, Brandes manages over $1.0 billion across fixed income and international equity strategies as of 10/31/2017.
Executive Director
Today’s meeting was the last official board meeting for IMRF’s retiring leader, Executive Director Louis W. Kosiba. He exits the organization on December 31, 2017. Brian Collins, the new executive director, begins on Monday, January 8, 2018.
As of October 31, 2017, the IMRF total portfolio was valued at $40.4 billion.
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