Illinois State Board of Investment's investment committee on March 23 will consider Boston Co., Arrowstreet and Batterymarch to run active international large-cap equities for the $11.4 billion Chicago-based fund, said William R. Atwood, executive director. The committee could recommend hiring any or all three of the firms, he said.
The committee will evaluate the three firms against the board's existing active international large-cap equity managers - Templeton Investment Counsel, which runs $303 million; UBS Global Asset Management, $301 million; and Walter Scott & Partners, $232 million. The board could terminate any or all three firms, he said.
"With the size of our staff, it's unlikely the board would want to have more than three international large-cap equity managers in total," said Mr. Atwood. "The board has three (such managers) now. The board might decide to hire all three or one or two or none, leaving the existing managers in place." Funding will depend on the board's hiring decisions.
Consultant Marquette Associates is assisting.