Illinois State Universities Retirement System, Champaign, plans to issue an RFP on Sept. 29 for managers to run $100 million in non-core real estate, said Daniel L. Allen, chief investment officer.
SURS could hire more than one manager, Mr. Allen said.
It plans to post the RFP on its website.
SURS, which oversees $17.3 billion in defined benefit assets, is seeking to build out its non-core component of its real estate allocation, Mr. Allen said. The allocation, now 7.5%, has a 10% target. Non-core makes up 35% of the target.
NEPC, the pension fund’s investment consultant, will assist in the search.