July 30, 2020
Untitled Document
OAK BROOK, Ill. –On Thursday, the Illinois Municipal Retirement Fund (IMRF) Board of Trustees approved $125 million in commitments within the Private Markets asset class, of which 60% was allocated to a minority-owned firm.
Private Markets: $125 million in commitments, pending satisfactory legal diligence.
The Board approved commitments to the following:
- Up to $75 million to Clearlake Flagship Plus Partners, L.P. , subject to satisfactory legal due diligence. IMRF is an existing investor in Clearlake’s Private Equity Funds through multiple direct and indirect commitments totaling $168.9 million. Clearlake qualifies as a Latino-owned firm, as defined by the Illinois Pension Code.
- Up to $25 million to EnCap Energy Transition Fund I, L.P. , subject to satisfactory legal due diligence. IMRF is an existing investor in Encap’s Private Equity Funds through multiple direct and indirect commitments totaling $100.8 million.
- Up to $25 million to H.I.G. Bayside Loan Opportunity Fund VI, L.P. , subject to satisfactory legal due diligence. IMRF does not have an established investment relationship with H.I.G.
As of May 31, the IMRF total portfolio was valued at $42.3 billion.
###
