Teachers' Retirement System of the State of Illinois, Springfield, hired Western Asset Management to run $934 million in enhanced index equities, benchmarked to the S&P 500, said John Day, spokesman for the $33 billion fund. Funding will come from trimming State Street Global Advisors' $5.2 billion S&P 500 index fund, Mr. Day said. Callan Associates assisted with the shortlist search.
Separately, Mr. Day said the board committed $70 million to the Carlyle Realty Partners IV diversified real estate fund. A funding source has not been determined. Mr. Day said the system has a long-standing relationship with Carlyle.