LCM Partners receive Illinois backing
The Teachers Retirement System of the State of Illinois (TRS Illinois), a $44 billion pension system, has committed a total of $100 million to LCM Partners.
LCM’s Credit Opportunities Strategy III launched in mid-2014 and is composed of a series of managed accounts and commingled funds targeting European and US institutional investors. It was voted PDI’s European distressed debt manager of the year in PDI’s 2015 awards.
The commitment came from the pension’s $7.8 billion Global Fixed Income portfolio. TRS Illinois is the 37th largest pension system in the US and had assets of $43.8 billion as of March 31 2015.