Illinois State Board of Investment, Chicago, is searching for managers to handle $300 million in international small-cap equities and $100 million in mortgage-backed securities, said William Atwood, executive director. The $10.1 billion board could hire more than one firm for each asset class. Funding for the international small-cap portfolio will come from the board's international large-cap equity managers, he said; none will be dropped. Funding for the mortgage-backed portfolio could come from a $789 million Lehman Intermediate Government/Credit index fund managed by State Street Global Advisors, but a final decision hasn't been made. Selections could be made later this month or in November.
Marquette Associates is assisting.