Illinois State Board of Investment, Chicago, hired Alliance Bernstein and Holland Capital Management to manage $150 million each in active domestic large-cap growth equities, said Scott Richards, portfolio manager-external investments. Funding came from terminating a $300 million passive domestic large-cap growth fund managed by Barclays Global Investors. The $8 billion plan wanted to switch from passive to active management, Mr. Richards said.
The fund’s current allocation is 43% domestic equity, 20% international equity, 22% fixed income, 7% real estate and 8% alternatives, he said.