Illinois Student Assistance Commission, Chicago, plans to search for real estate and private equity managers for its $982 million College Illinois! Prepaid Tuition Program fund.
The commission plans to issue separate RFPs for managers for micromarket real estate, multifamily-opportunistic real estate and private equity, according to a listing of upcoming RFPs on the website of the Illinois Department of Central Management Services.
Paul Palian, spokesman for the ISAC, couldn’t say when the RFPs will be issued; he also couldn’t provide further details about the types of investments.
Marquette Associates, ISAC investment consultant, will assist in the searches.
In real estate, the fund has 12.6% invested of a 20% target allocation. In private equity, it has a 0.8% invested and a target of 7%.