Illinois Teachers’ Retirement System, Springfield, terminated GE Asset Management, which ran $661 million in active domestic large-cap value equities. The termination was due to a manager restructuring at the $22.8 billion system and was not performance-related, said John Day, system spokesman. The assets were reallocated to existing active domestic equity managers: Alliance Bernstein now runs $827 million in large-cap value, up from $717 million; Dodge & Cox now runs $827 million in large-cap value, up from $730 million; NorthPointe Capital, $303 million in small-cap value, up from $206 million; Neuberger Berman, $221 million in small-cap growth, up from $100 million; and PIMCO, $919 million in its StocksPlus enhanced large-cap domestic core equity portfolio, up from $662 million. The system also shifted about $20 million from other equity managers’ accounts.
The moves are part of the system’s increase in overall equity allocation to 41% of total assets, from 31%.