Illinois Teachers' Retirement System, Springfield, hired Delaware Investments to run $285 million in active domestic small-cap to midcap growth equities and LSV Capital Management to handle $285 million in active domestic U.S. small-cap to midcap value equities. Funding came from SSgA's S&P 500 Flagship Fund, where assets had been managed temporarily. The move resulted from the $20.5 billion system's ongoing asset allocation review.
Separately, the system committed $50 million to Thayer Equity Advisors V, a buyout fund, and $25 million to Evergreen IV, an early stage venture capital fund. Funding will come from cash.
The system is also searching for an active domestic large-cap value equity manager as a possible replacement for Alliance Capital, which is on watch for organizational concerns regarding Enron litigation. Alliance managed $636 million for the plan as of Sept. 30, said Jon Bauman, executive director.