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Alternative Assets  + Private Equity  |  June 10, 2024
Illinois Pension Makes $280M in Private Equity Commitments
By: Joe Palmisano

Illinois Pension Commits $280M to Private Equity

The Illinois Municipal Retirement Fund (IMRF) has approved over $280 million in new private equity investments.

HIG Capital has received $100 million for its Whitehorse Middle Market Lending Fund, and an additional $35 million for HIG Capital Partners VII. The firm exceeded its goal for its previous Whitehorse direct lending fund in 2021, achieving $1.65 billion.

It closed its flagship HIG Capital Partners VI fund a year ago at $1.3 billion. No target has been set for either of the most recent fundraises.

IMRF, which oversees $54.1 billion, also announced a $50 million allocation to AUA Private Equity Fund III. The firm already closed its oversubscribed second fund for $310 million in 2021, above its $300 million target.

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Inside The Story

Illinois Municipal Retirement Fund

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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