Illinois Teachers Retirement System, Springfield, placed BlackRock Financial Management, which manages $1.7 billion in active domestic fixed income, on watch because of benchmark underperformance. The $21 billion system also took two firms off watch for improved performance: Geewax Terker, which manages $291 million in active domestic large-cap growth equities, and UBS Global Advisors, which handles $630 million in active international fixed income.
Separately, Oak Associates, which ran $102 million in active domestic large-cap growth equities, was terminated for performance. The assets were awarded to existing large-cap growth manager MFS; further details were not available. Sandra Knoll, a spokeswoman for Oak, declined to comment.
Mazama Capital Management and J.&W. Seligman were awarded $152 million each in active domestic small-cap to midcap growth equities as part of earlier asset allocation restructuring. Funding came from fixed income.
Also, trustees committed $75 million to the Carlyle/Riverstone Global Energy and Power Fund II and $50 million to the Evercore Capital Partners II Fund. Funding came from cash.
Callan Associates was retained as consultant and awarded a three-year contract.