Illinois State Universities Retirement System, Champaign, added $45 million each to existing REIT managers Clarion CRA Securities and The RREEF Funds, said John R. Krimmel, chief investment officer of the $11.5 billion fund. The new funding will raise their assignments to $90 million each.
The moves were the result of SURS trustees doubling the system’s REIT allocation to 2% of total assets. Funding will come from cash flow or from a $1 billion passive fixed-income portfolio managed by Barclays Global Investors, he said.
