Illinois Teachers’ Retirement System, Springfield, hired Fred Alger Management to manage $250 million in active domestic small-cap to midcap growth equities and Epoch Investment Partners to manage $100 million in active international small-cap equities. Trustees of the $42 billion fund approved the hires at a board meeting today as part of staff’s ongoing opportunistic hiring process for small-cap managers.
Trustees also made the following private equity commitments: $100 million each to Riverstone/Carlyle Global Energy and Power Fund IV and OCM Opportunities Fund VIIb; and $50 million to Pine Brook Capital Partners. They also committed an additional $50 million to a real estate separate account managed by KBS Realty Advisors, which now manages a total of $480 million for the system.
The fund’s investment returns beat its custom benchmark in all reporting periods ended Sept. 30: 17.9% for the year; 15% for three years; 15.2%, five years; and 9.1%, 10 years.
