Illinois Student Assistance Commission, Springfield, is searching for an investment consultant for the approximately $962 million College Illinois Trust Fund, the state's prepaid tuition program, said Kent Custer, chief investment officer.
The contract of current consultant Callan Associates expires in January. Callan is invited to rebid.
The RFP is available on the state's procurement website. Registration is required.
Proposals are due by 2 p.m. CDT on Sept. 2. There is no set timeline for a hiring decision.
As of June 30, the College Illinois Trust Fund had an asset allocation of 21.6% U.S. equity, 21% fixed income, 17.6% non-U.S. equity, 10.1% real estate, 8.8% infrastructure, 8.6% absolute return, 5% real estate investment trusts, 3.7% high-yield bonds, 2.6% private equity and the remainder in cash.
