Illinois State Board of Investment, Chicago, will issue an RFP in the next few weeks for one or more active domestic large-cap growth equity managers to run at least $325 million, said William Atwood, executive director of the $10.3 billion system. Funding will come from proceeds of 2003 pension obligation bonds invested temporarily in index funds with Northern Trust Global Investments.
The board is evaluating the asset class and will look at Geewax Terker and Holland Capital Management, which manage $324 million and $240 million, respectively, in active domestic large-cap growth equities. Geewax has a performance problem, and Holland has beaten its benchmark, according to a board report. John Geewax, chief investment officer of Geewax Terker, didn't return a call for comment.