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Alternative Assets  + Private Equity  | 
Illinois Pension Makes $280M in Private Equity Commitments

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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Illinois Municipal Retirement Fund

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.