IMRF backs Symphony Technology Group and Parthenon Capital

The US public pension has invested in two buyouts funds.

Name: Illinois Municipal Retirement Fund
HQ: Oak Brook, US
AUM: $47.9 billion
Allocation to alternative investments: 10.6%

Illinois Municipal Retirement Fund has committed a total of $100 million across two buyout funds.

The pension fund has invested $50 million each into Symphony Technology Group‘s seventh fund, STG VII, and Parthenon Investors VII, according to a recent press release from the firm.

Both funds will invest in the TMT sector in North America. Parthenon Investors VII, however, will also be investing in the healthcare, business and financial services sector.

IMRF’s private equity portfolio is housed within its 10.6 percent alternative investments portfolio. As of December 2022, it is valued at $5.08 billion. As illustrated below, the pension’s recent private equity commitments have focused on North American vehicles with buyout or growth equity capital returns.

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