The $3.8 billion return was mostly driven by private equity and offshore investments, according to the news report. Pension assets for the teachers’ fund are now $41.9 billion. The figures were released by trustees of the retirement system.
Private equity, which accounts for 4.6% of the fund, outperformed all its other investments with a 31.3% return, while the fund’s international equity holdings generated a 30% return, real estate investments returned 26.2%, and domestic equities holdings returned 19.6%. Fixed income holdings, which only account for 19% of the fund, returned 6%.
According to the Financial News, the Illinois fund’s returns were in line with other large U.S. pension programs. The California Public Employees’ Retirement Fund saw 19.1% returns and the California State Teachers’ Retirement System returned 21%.