Illinois State Universities Retirement System, Champaign, committed $200 million and $100 million, respectively, to open-end core-plus real estate funds managed by Blackstone Group and Carlyle Group, a news release said.
The retirement system issued an RFP in December to reduce plan risk and diversify the $19.2 billion pension fund's investments, according to the RFP. Cabrera Capital Partners was also a finalist.
Separately, SURS hired Cammack Retirement Group as the first general investment consultant for its $2.2 billion defined contribution plan.
SURS issued an RFP in October for general investment consultants for the DC plan and defined benefit plan, a spokeswoman said in an email. Aon Hewitt Investment Consulting was also considered. In February, SURS had hired Pension Consulting Alliance as the general investment consultant for the DB plan, with Aon Hewitt Investment Consulting, Meketa Investment Group and incumbent consultant NEPC also considered.
NEPC had been the general investment consultant for both plans and had rebid for the services.
As of Nov. 30, the actual allocation was 24.9% domestic equities, 19.5% fixed income, 18.9% international equities, 9.5% real estate, 8.2% global equities, 5.1% private equity, 4.8% hedged strategies, 3.6% Treasury inflation-protected securities, 3.1% emerging markets debt, 2% commodities and 0.4% opportunity fund.