Illinois State Universities Retirement System, Champaign, plans to issue an RFP in mid-October for opportunistic real estate managers to run a total of $150 million, according to Daniel L. Allen, chief investment officer.
The $13.4 billion defined benefit plan could hire more than one manager.
The move is part of an effort to reach a 10% target for real estate from the current level of about 7%.
Callan Associates, SURS’ investment consultant, will assist in the search, Mr. Allen said in an e-mail.
The RFP will be posted on system’s website, www.surs.org.