Fund of Fund Investment Disclosure
Public Act 96-1554 requires the disclosure of contracts for qualified fund-of-funds management services. In accordance with 40 ILCS 5/1-113.15(b) of the Act, commitments have been made to the following investment advisors/fund-of-funds since March 18, 2011, the effective date of the legislation:
| Fund-of-Funds Name | Investment Advisor | Commitment Amount |
|---|---|---|
| Adams Street 2012 Global Fund LP | Adams Street Partners | $80 million |
| Adams Street Global Secondary Fund 5 LP | Adams Street Partners | $20 million |
| Adams Street 2013 Global Fund LP | Adams Street Partners | $100 million |
| Adams Street 2014 Global Fund LP | Adams Street Partners | $100 million |
| Adams Street 2015 Global Fund LP | Adams Street Partners | $125 million |
| Adams Street 2016 Global Fund LP | Adams Street Partners | $150 million |
| Adams Street 2017 Global Fund LP | Adams Street Partners | $90 million |
| Adams Street 2018 Global Fund LP | Adams Street Partners | $90 million |
| Mesirow Co-Investment Fund VII-B LP | Mesirow Financial Advisors | $40 million |
| Mesirow Co-Investment Fund VIII-B LP | Mesirow Financial Advisors | $40 million |
| Franklin Templeton Emerging Manager REFF LP | Franklin Real Asset Advisors | $75 million |
| Franklin Templeton Private Real Estate Fund LP | Franklin Real Asset Advisors | $50 million |
| Pantheon USA Fund IX LP | Pantheon Ventures | $85 million |
| Pantheon Europe Fund VII LP | Pantheon Ventures | $39.6 million |
| Pantheon Multi-Strategy Program 2014 (US) LP | Pantheon Ventures | $125 million |
| Pantheon Access (US) 2017 LP | Pantheon Ventures | $90 million |
| Pantheon Access (US) 2018 LP | Pantheon Ventures | $180 million |
| Real Estate Global Partnership Fund II | StepStone Group Real Estate | $60 million |
The factors contributing to the investment in these fund-of-funds include:
- Experience of the firm in the management of institutional portfolios operated under prudent person standards, as well as related investment management experience
- Qualifications and/or depth of the professional staff
- Soundness of the firm’s investment philosophy and process
- The investment record of the firm and/or the firm’s principals in former associations where that record is verifiable.