Governor Pritzker Appoints James Hayes to TRS Board; TRS Thanks Michael Goetz for His Service

FOR IMMEDIATE RELEASE

SPRINGFIELD, IL - Governor JB Pritzker has appointed James "Jim" Hayes to the Teachers' Retirement System of the State of Illinois (TRS) Board of Trustees.

James "Jim" Hayes currently serves as chief financial officer of Draper and Kramer, Incorporated, a real estate investment and financial services company, where he is responsible for the company's overall financial management. Previously, he served as senior vice president of Baytree National Bank and Trust Company, a wholesale mortgage company and consumer finance firm.

Before joining Baytree, Hayes was senior vice president, head of finance, treasurer and mergers and acquisitions lead at Prism Mortgage Company, a mortgage originator. After Prism Mortgage completed an initial public offering, Royal Bank of Canada acquired the firm.

Hayes earned a Bachelor of Science in Business Administration in accounting from Northern Illinois University and a Master of Business Administration from the University of Chicago.

"James Hayes brings valuable experience to the TRS Board of Trustees," said TRS Executive Director and Chief Investment Officer Stan Rupnik. "His background in financial management, corporate finance and business leadership offers a useful perspective as the Board oversees the System and its long-term responsibilities. We remain focused on delivering the retirement benefits our members have earned and providing dependable service throughout their retirement."

TRS also thanks Michael Goetz for his service on the Board of Trustees. Goetz brought valuable experience in labor organizations, public finance and investment governance to the Board. Before joining TRS, he served as executive director of the Laborers Home Development Corporation, chair of the Illinois State Board of Investment and vice chair of the Illinois Finance Authority. TRS appreciates Goetz's contributions to the System and its members.

"We thank Michael for his service on the TRS Board and the time he has devoted to the System and its members," said Stan Rupnik . "His experience in public finance and investment oversight brought an important perspective to the Board's work. We appreciate his contributions and wish him well."

At the October meeting, trustees also reviewed the System's funded status for the fiscal year ending June 30, 2026. The funded ratio, based on the actuarial value of assets, increased to 49.5 percent, up from 47.8 percent in the previous year. The increase reflects a combination of strong investment returns and consistent funding contributions from both the State of Illinois and participating employers.

Board of Trustees Meeting Investment Actions

The TRS Board of Trustees met at its regularly scheduled October meeting and discussed the following investment actions within the TRS portfolio:

Trustees approved the Strategic Credit annual tactical plan for fiscal year 2027. The approved FY27 tactical plan summary can be viewed on the TRS website.

Within the System's $14.1 billion Private Equity Portfolio:

• The commitment of $51.3 million to MED Platform III Feeder (USD) SCSp. Archimed currently manages $90.5 million in TRS assets.
• The commitment of $17.1 million to MED IV Feeder (USD) SCSp. Archimed currently manages $90.5 million in TRS assets.
• The commitment of $125 million to CD&R Fund XIII, L.P. CD&R currently manages $120.7 million in TRS assets.
• The commitment of $35 million to Craft Ventures V, L.P. Craft Ventures currently manages $98.1 million in TRS assets.

Within the System's $4.5 billion Diversifying Strategies Portfolio:

The commitment of $250 million to Capula Global Relative Value Fund LTD. Capula is a new relationship to TRS.

Within the $13.7 billion Real Assets Portfolio:

• An additional commitment of $100 million to Principal Real Estate Investors. Principal currently manages $1.0 billion in TRS assets.
• An additional commitment of $125 million to Heitman Real Estate Investment Management. Heitman currently manages $1.7 billion in TRS assets.
• An additional commitment of $75 million to Barings Real Estate Advisers. Barings currently manages $1.1 billion in TRS assets.
• The commitment of $500 million to AEW Capital Partners. AEW is a new relationship to TRS.

About Teachers' Retirement System of the State of Illinois

The Teachers' Retirement System of the State of Illinois is the 35th largest public pension system in the United States and administers retirement, disability and survivor benefits for teachers, administrators and other public-school personnel employed outside of Chicago. The System serves more than 462,000 members and had assets of $87.92 billion as of August 31, 2026.