SPRINGFIELD, IL – Teachers’ Retirement System has committed more than $360 million to various investment opportunities; all designed to advance the mission of TRS on behalf of its 412,000 members.
During a regularly scheduled meeting of the TRS Board of Trustees, the System’s investment staff reported the following actions:
- Extended $100 million from the System’s $10 billion Global Fixed Income portfolio to the Pacific Investment Management Corporation of Newport Beach, California for the firm’s Distressed Senior Credit Opportunities Fund II. PIMCO currently administers $2.9 billion in System assets.
- Committed €100 million from the System’s $6.6 billion Private Equity portfolio to EQT Funds Management of Stockholm, Sweden. EQT currently administers $155.9 million in TRS assets.
- Within the $10.8 billion International Equity portfolio, terminated the small capitalization strategy of Mondrian Investment Partners, of London, England, which had totaled $324 million in TRS assets.Mondrian still administers $782.6 million in System assets in a large capitalization strategy. Following this action, $260 million in TRS assets were transferred to Strategic Global Advisors, of Newport Beach, California and $64 million was retained in cash by TRS. SGA currently administers $683.1 million in TRS assets.
About Teachers’ Retirement System
The Teachers’ Retirement System of the State of Illinois is the 37th largest pension system in the United States, and provides retirement, disability and survivor benefits to teachers, administrators and other public school personnel employed outside of Chicago. The System serves 412,451 members and had assets of $51.3 billion as of December 31, 2017.