Illinois State Universities Retirement System, Champaign, plans to issue an RFP next week for private equity fund-of-funds managers.
SURS, which oversees $16.5 billion in defined benefit assets, could hire more than one manager from the search, said Craig McCrohon, investment committee chairman.
Mr. McCrohon was unable to provide further details, including the amount SURS plans to commit for the search. W. Bryan Lewis, SURS executive director, said last April the commitment would be a total $150 million.
The RFP will be posted on SURS’s website.
SURS expects responses would be due at the end of July.
Investment consultant NEPC will assist with the search.