Daniel L. Allen, chief investment officer of the $17.5 billion Illinois State Universities Retirement System, Champaign, plans to retire later this year, SURS announced Monday in a news release.
SURS contracted with Heidrick & Struggles, an executive search firm, to assist in conducting a nationwide search for qualified candidates over the next few months.
Mr. Allen has served as CIO since 2005. He joined SURS in 2000 as deputy CIO. He is only the third CIO in SURS' 75-year history, the news release said.
“I am honored and privileged to have served the board over the years,” Mr. Allen said in the release. “The opportunities, challenges and fun of leading the investment team have been very fulfilling. It has been a unique experience that I will always cherish. I am looking forward to my next adventure in life as a SURS annuitant.”
SURS oversaw $15.9 billion in defined benefit assets and $1.6 billion in 401(a) defined contribution assets as of Jan. 31.