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The Teachers’ Retirement System of the State of Illinois (ITRS) has committed $200 million to Pretium Residential Credit Fund III, as of Feb. 20, 2025.

Pretium Residential Credit Fund III, a vehicle of Pretium Partners, is a core, debt and closed-end fund that invests in U.S. residential mortgage loans that fall outside the traditional mortgage system and are less able to be serviced by traditional banks. A fundraising goal has not been determined. Its predecessor, Pretium Residential Credit Fund II, closed with $1.7 billion in fundraising equity in 2022.