Illinois Teachers' Retirement System, Springfield, terminated a search for hedge funds of funds managers to run $260 million. Earlier this year, the $31 billion system instructed consultant Callan Associates to review candidates, but it did not select finalists or conduct interviews, said John Day, spokesman. "The action was taken because the system prefers to stand by the existing asset allocation that does not include hedge funds," according to a statement.
Separately, the system committed $20 million to Capri Select Income Fund II, a mezzanine real estate fund, said Mr. Day.
