University of Illinois Board of Trustees, Urbana, hired Attucks Asset Management to develop an emerging manager-of-managers program with a focus on domestic equity for its $590 million endowment pool, said Dean Hagan, director of university investments, in an e-mail.
In this role, Attucks will manage approximately 7%, or $41.3 million, of the University of Illinois’ endowment pool. No managers were terminated to fund Attucks’ allocation, Mr. Hagan wrote.
Attucks has discretionary authority to hire subadvisers, Mr. Hagan wrote. He declined to name the selected firms.
An RFI was issued earlier this year.
Before the RFI was released, the board of trustees approved creating a 7% allocation to an “opportunity fund” within its endowment pool.