The search was prompted by last month's departure of Don Brackey from Mercer. Mr. Brackey and Mercer consultant Chris Ford will be assisting officials of the $12.6 billion fund until a final decision is made at the end of the month.
Illinois State Board of Investment, Chicago, is close to hiring a CIO, said Jane Patterson, executive director of the $7.1 billion fund. She declined to name the person until the choice is official, which is expected by July 24.
The CIO position was created in part because Ms. Patterson now is working half time.
Meanwhile, a decision on a new asset allocation could come at the fund's meeting next week, she said.
Polytechnic University, New York, started a search for fixed-income and equity managers following news it will soon receive a $190 million bequest to its endowment.
The university's investment board Monday decided to search for two bond and two equity managers. It should come to a decision about the managers within the next two months, said Greg Smith, the university's CFO.
The bequest is in shares of Berkshire Hathaway stock; the university will receive the $190 million in three months. The endowment now has about $50 million in assets.