Illinois Teachers Seek Middle-Market Debt

The $31 billion Illinois State Teachers Retirement System is seeking one or two additional distressed debt managers to fill out its 6% allocation to private equity, which is currently only half-filled.

  • 30 Jan 2004
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The $31 billion Illinois State Teachers Retirement System is seeking one or two additional distressed debt managers to fill out its 6% allocation to private equity, which is currently only half-filled. John Bauman, executive director at the Springfield, Ill.-based plan, said the plan would seek one or two new distressed debt funds before the end of its fiscal year in June and expects to invest about $40 million with the new managers. "We are probably going to look for funds that target more middle-market debt, but if we saw [another type of distressed] fund come to market that was an exceptional opportunity, we would pursue it," he said. In October, the plan committed $65 million to MatlinPatterson Asset Management's distressed debt fund, dubbed the Global Opportunities Fund II.

  • 30 Jan 2004

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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1 Citi 81,261.11 236 11.54%
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3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%