Illinois State Universities Retirement System, Champaign, rehired TCW Group to continue to manage $356 million in core-plus fixed income, said Daniel L. Allen, chief investment officer.
The retention is part of a restructuring of the $12.1 billion system’s $2.7 billion fixed-income portfolio, expected to conclude in October, which required all its existing managers to rebid in an RFP issued in February.
The TCW-run portfolio is managed by the team that was formerly part of Metropolitan West Asset Management, which TCW acquired earlier this year and which SURS has employed since 2001, Mr. Allen said.
Hewitt EnnisKnupp, SURS’ investment consultant, assisted in the search.
