State Universities Retirement System of Illinois, Champaign, selected...

State Universities Retirement System of Illinois, Champaign, selected three managers to run an allocation to REITs, said John R. Krimmel, acting chief investment officer for the $11.8 billion pension fund. It committed $50 million to Barclays Global Investors to manage a passive REIT portfolio; $25 million to RREEF Funds for an active core portfolio; and $25 million to Clarion/CRA Real Estate Securities for a concentrated active portfolio. Hirings are pending contract terms. Both Barclays and RREEF manage portfolios for the system in other asset areas. Mr. Krimmel said the REIT manager selections represent the system’s first specific allocation to the area. The only other REIT issues the system holds are in a Wilshire 5000 index fund, which amounts to less than 1% of the fund, and through the occasional purchase by an active equity manager.