SPRINGFIELD, IL – The Teachers’ Retirement System Board of Trustees today approved the engagement of Aksia, LLC as its consultant to help the System’s investment staff administer potential investments in the private debt/credit sector of the $11.9 billion Income Portfolio.
The contract with Aksia will be for five years. The firm is the first consultant for the System dedicated to private debt/credit opportunities.
During the Board’s regularly-scheduled August meeting, the following actions within the $51.3 billion TRS investment portfolio were reported:
- From the $26.5 billion Equity Portfolio:
- The commitment of $470 million to AQR Capital Management, of Greenwich, Connecticut. AQR currently administers $2.3 billion in TRS assets.
- The commitment of $75 million to SK Capital Partners of New York, New York.
- The commitment of $50 million to Inflexion Private Equity Partners of London, United Kingdom.
- The termination of the large capitalization strategy of J. P. Morgan Asset Management of New York, New York, which administered $710.2 million in TRS assets in the international equity sector. Morgan still administers $953.7 million in TRS assets in other strategies.
- From the $7.04 billion Real Assets Portfolio:
- The commitment of $300 million to Blackstone Capital Partners of New York, New York. Blackstone currently administers $528.7 million in TRS assets.
- The commitment of $200 million to Fortress Investment Group of New York, New York. Fortress currently administers $81.5 million in TRS assets.
- The commitment of $100 million to Principal Real Estate Investors of Des Moines, Iowa. Principal currently administers $184.6 million in TRS assets.
- From the $11.9 billion Income Portfolio:
- The commitment of up to $75 million to Edelwesiss Asset Management of Mumbai, India.
- From the $5.9 billion Diversifying Strategies Portfolio:
- The commitment of $200 million to Light Sky Macro, of New York, New York.
- The commitment of $150 million to Varadero Capital of New York, New York. Veradero currently administers $268.8 million in TRS assets.
- The termination of the Global Absolute Return Strategies of Standard Life Investment of Edinburgh, Scotland.
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 June 30, 2018.