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 fund’s 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 fund’s 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 plan’s $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 plan’s Sudan investment restrictions.
