Illinois Teachers Retirement System, Springfield, today increased investments with two 130/30 managers, bringing the $38.4 billion systems allocation to the strategy to its 10% target, from 7%.
Analytic Investors was awarded $120 million, bringing its total to $611 million, while JPMorgan Asset Management was awarded $75 million, bringing its total to $560 million.
Staff told system trustees they hope to invest the remaining $45 million in the JPMorgan 130/30 strategy, which is now closed. Funding will come from rebalancing domestic equities.
In alternatives, trustees committed e50 million ($77.3 million) to the Oaktree Capital Management European Principal Opportunities Fund II. The commitment will be funded through the plans ongoing private equity program.
The system also reappointed Northern Trust as master trustee, subject to final contract negotiations.