The Teachers’ Retirement System of the State of Illinois (TRS IL) has committed $100 million to Locust Point Private Credit Fund IV, a vehicle of Locust Point Capital.
This fund provides subordinate debt, preferred equity and opportunistic senior mortgage loans to owner-operators in the senior housing and care sector. It focuses on acquiring, building, expanding and renovating assisted living, memory care and skilled nursing facilities throughout the United States.
The fund’s predecessor, Locust Point Private Credit Fund III, closed with $668 million in total capital in June 2025.
As of June 30, TRS IL had $86.1 billion in total assets under management. As of June 30, the public pension fund had $13.1 billion in total real estate assets and a 16 percent real estate allocation target.
