Illinois Teachers gets industrial with real estate search

Illinois Teachers' Retirement System, Springfield, is searching for a real estate manager to run a $200 million industrial properties portfolio, according to an RFI posted on the $37.5 billion pension fund's website.

TRS' $4.5 billion real estate portfolio currently is underweight industrial properties, said David Urbanek, a spokesman, in an e-mail.

Callan Associates is assisting the pension fund's investment staff with the manager search.

The full RFI is available from the fund's website. The deadline to return completed RFIs is Jan. 15, and a final decision about hiring an industrial real estate specialist will be made by TRS trustees next spring.