Illinois Teachers’ Retirement System, Springfield, is searching for a firm to provide investment risk management services for its absolute-return portfolio, confirmed spokesman David Urbanek.
The risk management services could be expanded to cover the entire investment portfolio. The $39.6 billion pension fund has about $2 billion in absolute-return strategies. It is in the midst of moving to direct hedge fund investments from funds of funds and the search is “another step in that direction,” Mr. Urbanek said in a telephone interview.
Investment consultant R.V. Kuhns & Associates is assisting.
The RFP is available on the pension fund’s website. Proposals are due at 2 p.m. CTD Aug. 30. A hiring decision is expected on Dec. 9.