Illinois Teachers’ Retirement System, Springfield, is searching for an active domestic large-cap value equities manager as a possible replacement for Alliance Capital, which is on watch for organizational concerns regarding Enron litigation. Alliance managed $636 million in the portfolio as of Sept. 30, said Jon Bauman, executive director of the $20.5 billion system.
Gordon Dickinson of consultant Callan Associates’s Chicago office will conduct the search.
The system also 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 the assets had been temporarily managed. The move resulted from the 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.
