Illinois State Universities Retirement System, Champaign, might add minority-owned RhumbLine Advisers as an index manager, running $500 million in an S&P 500 fund and $100 million in a Lehman Brothers Aggregate fund. SURS issued an RFI after the Illinois State Senate Select Committee on Public Pension Investments called on state public pension funds to increase their use of minority-owned and women-owned investment advisers.
The $12.4 billion fund's asset allocation is about 50% indexed, an area in which there are few minority- and women-owned firms; this hiring allows the fund to "place a significant amount of assets" with such firms, said James M. Hacking, executive director.
The board is expected to make a decision on Friday, when it will also decide on the funding source.
