The Illinois State Board of Investment believes that private markets will outperform public equivalents over the long term and is increasing its private equity target allocation as a result, according to a report by BuyOutsInsider.
The Illinois State Board of Investment believes that private markets will outperform public equivalents over the long term and is increasing its private equity target allocation as a result, according to a report by BuyOutsInsider.
The $23.4 billion pension fund approved the increase, which was recommended by its investment adviser Meketa, at a board meeting on 30 September. The current PE allocation stands at 8%.
The pension fund has reportedly made 14 commitments to private equity funds totalling $450 million up to the end of August of this year, all within a range of $20 million to $35 million.
