Illinois State Universities Retirement System, Champaign, added a total of $75 million in additional funding to existing active equity firms in its manager development program. NCM Capital Management will receive $25 million, raising its assignment to $46 million in domestic growth; Lombardia Capital Partners, $15 million, to $32 million in domestic smidcap value; Atlanta Life Investment Advisors, $15 million, to $35 million in international; Profit Investment Management, $10 million, to $29 million in domestic smidcap growth; and Buford Dickson, $10 million, to $21 million in domestic smidcap growth. The add-on commitments will be made this month, said CIO Daniel L. Allen.
Funding will come from Northern Trust Global Advisors, which ran $185 million in a manager-of-emerging-managers fund but was terminated when the $15.9 billion system consolidated the program with Progress Investment Management, which runs $210 million.
The remaining $110 million from Northern Trust will be parked in a $2.2 billion Wilshire 5000 index fund managed by Northern Trust Global Investments, for use in expanding the manager development program, Mr. Allen said. SURS staff expects to present recommendations for implementing plans for investing the funds at the boards investment committee meeting March 13, he added.
The systems manager development program advances the use of minority-owned and women-owned money management firms.