Illinois Teachers Retirement System, Springfield, on Thursday authorized a search for six transition managers.
RFPs likely will be available in mid-November on the $34 billion funds website, http://trs.illinois.gov, said Stan Rupnik, CIO. The search is being conducted as part of a periodic contract rebidding and because two of the six managers on the funds approved list Lehman Brothers and Merrill Lynch, have been or will be acquired by other entities. The other existing managers BGI, State Street, CSFB, and Goldman Sachs may rebid, said Mr. Rupnik. Information on when selections will be made was not available.
Separately, the system committed $50 million each to private equity funds GI Partners III, a buyout fund; Edgewater Growth Equity Partners III, a growth equity fund; and Blackstone Capital Partners VI.
Lombardia Capital Partners was hired to manage $25 million in active domestic small-cap value equities as part of the plans $500 million emerging managers program.
Trustees also approved moving the 130/30 portfolios managed by Analytic Investors and JPMorgan Asset Management to commingled funds from separate accounts. Each managed about $490 million as of June 30. Mr. Rupnik told trustees that both firms have guaranteed that their commingled funds will be compliant with the plans Sudan investment restrictions.