Illinois State Universities Retirement System, Champaign, issued an RFP for managers to run a total of $100 million in non-core real estate.
SURS could hire more than one manager and will consider both direct commingled funds and fund-of-funds structures, the RFP said.
The RFP is available on SURS’ website. Proposals are due Oct. 31. The SURS board, which oversees $17.3 billion in defined benefit assets, expects to make a decision in March.
NEPC, the pension fund’s investment consultant, is assisting in the search.