Illinois State Board of Investment, Chicago, issued RFPs for one or two managers to run a total of $250 million in active international equities and an infrastructure manager to handle $250 million, said William R. Atwood, executive director of the $12.2 billion system.
Funding for the international equity hiring would come from reducing a $293 million MSCI ACWI ex-U.S. index fund and a $268 million MSCI EAFE index fund, both managed by SSgA. ISBI is seeking to move more into active management. For infrastructure, ISBI is seeking to hire one manager and possibly increase assignments of its existing infrastructure managers Alinda and Macquarie, which together have about $300 million in ISBI commitments. ISBI would decide how to divide the money, depending on the quality of the RFPs, Mr. Atwood said. The move is part of ISBIs effort to reach its 5% infrastructure allocation. Funding would come from its $2.6 billion fixed-income portfolio.
Prospective managers can submit proposals until about mid-February, Mr. Atwood said, The RFPs are available from consultant Marquette Associates. The board hopes to make selections at its March 21 meeting.