The
In mid-June, the plan sponsor committed up to $25 million to
Chicago-based Maranon Capital provides senior debt, mezzanine debt and equity co-investment capital for leveraged buyouts, recapitalizations, refinancings, growth initiatives, acquisitions and ESOPs. It seeks $250 million for its fund.
Although the LP established its $500 million emerging managers program in 2005 to foster long-term relationships with developing investment firms, private equity firms were not admitted into the program until May 2008. The goal is to ultimately have 10 percent of the emerging manager program allocated to private equity, said spokesperson Eva Goltermann. The only other private equity firms in the program are
In other news, a committee will meet on July 31 to interview executive search firms, one of which will be hired to identify candidates for the executive director position that’s been vacant since April when Jon Bauman resigned. A finalist will likely be selected in August. Chief Investment Officer Stan Rupnik will remain acting executive director until the position is filled. The LP is still interviewing candidates to replace Lamar Villere, formerly the senior alternative investments officer, who left earlier this year to oversee the
Teachers’ Retirement System of the State of Illinois had assets of $27.2 billion as of March 31, 2009. In late May, the state upped its target allocation to private equity to 10 percent from 8 percent. It had an actual private equity allocation of 9 percent at the end of March.