Illinois Teachers' Retirement System, Springfield, is increasing the target for assets managed by women- and minority-owned firms to $4.5 billion or 15% of total assets, whichever is reached first, in 2007, said Eva Goltermann, public information officer. Women and minority ownership will be an important consideration in reviewing all managers in searches, Ms. Goltermann said.
As of March 31, 11 women- and minority-owned managers ran a total of $4.2 billion for the $36.8 billion fund. Additionally, Illinois Teachers used 43 minority-owned equity broker-dealers for U.S. and international trading and 14 for global fixed-income trading in the fiscal year ended June 30, according to a statement from the plan.
The system hosted an Opportunity Forum in Chicago on Monday that was "focused on building relationships between minority business enterprises and external asset managers at TRS," according to the fund's statement.