The approximately $5 billion Illinois State Board of Investment, Chicago, was scheduled to choose an international equity manager today to run $80 million of an eventual $250 million shift to active non-U.S. equity management. Three firms vied for the assignment in final presentations to board trustees - Marathon Asset Management, Walter Scott & Partners and Martin Currie. The identity of the firm hired won't be released until the finalists are informed next week, said Marshall Burman, board chairman.
Assets for the hiring will come from a passive international equity swap that was put in place in February following an allocation shift to non-U.S. from U.S. equities, said CIO Jane Patterson. The board has not decided what to do with the $170 million left in the swap.
Pension Consulting Alliance assisted with the search.
Also scheduled to make a presentation today was InterWest Partners for a private equity allocation.
