Teachers’ Retirement System of the State of Illinois (Illinois Teachers) said it has approved a $100m (€94.2m) commitment to NGP Natural Resources XIII, an oil and gas production, oilfield services and midstream energy investment vehicle.
According to a recent SEC filing, NGP Natural Resources is seeking to raise $2.5bn for the opportunistic fund. NGP is raising capital for Fund XIII and a co-investment sidecar fund.
As reported previously, the Oregon Public Employees Retirement Fund issued a $200m commitment to NGP Natural Resources XIII and placed $50m into a sidecar to invest alongside the NGP fund. Teacher Retirement System of Texas also committed $150m to NGP Natural Resources XIII.
Illinois Teachers already has a relationship with NGP. Before making this new commitment, NGP oversaw an investment portfolio worth $168m on behalf of the pension fund.
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