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.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||24,627.51||67||8.97%|
|4||Bank of America Merrill Lynch||23,023.30||73||8.39%|