Alternative Investments: Illinois Municipal Fund Earmarks $125 millions for Alternative Investments

Oak Brook — an Illinois-based Municipal Retirement Fund — has designated $125 million for alternative investments.  The $125 million will be split — $75 million will be invested in Clearlake Flagship Plus Partners.  $25 million will be invested in EnCap Energy Transition Fund I, which is managed by EnCap Investments.  Ultimately, the remaining cash will be set aside for H.IG. Loan Opportunity Fund VI, which is managed by H.I.G. Capital.  

Clearlake

Clearlake Capital Group manages Clearlake Flagship Plus Partners — a private equity fund.  The private investment firm specializes in private equity and special situation transactions.  Its portfolio includes companies like Bluefly, Buy.com, and MetricStream.  The firm has approximately $24 billion assets under management.

EnCap

EnCap Investments is a private equity firm specializing in oil and gas.  The Energy Transition Fund is a clean-energy fund.  The firm has $22 billion invested in over 200 companies and has approximately $18 billion assets under management.  Essentially, EnCap Investments employs an upstream strategy which involves identifying and attracting the energy industry’s premier management teams.  

H.I.G. Capital

H.I.G. Capital is a private equity and alternative asset management firm based in Miami, Florida.  The firm currently has $39 billion assets under management.  The firm focuses on small and mid cap segments in the market.  Its funds include private equity, real estate, and distressed debt.  

Wilshire Associates assisted with the $125 million investment approval.  Wilshire Associates is an institutional investment consulting firm.

Oak Brook is a retirement fund worth $38.5 billion.