Searches and Hires

Illinois State Universities issues call for real estate consultant

Illinois State Universities Retirement System, Champaign, is searching for a non-discretionary real estate consultant, said an RFP on the $19.2 billion pension fund's website.

In February, the pension fund hired Pension Consulting Alliance as a general investment consultant, replacing NEPC. NEPC currently provides real estate consulting services to SURS on an interim basis, according to the RFP. Whether NEPC is invited to rebid could not immediately be learned.

The RFP is available on the pension fund's website. Proposals are due by 4:30 p.m. CDT on May 25, with a hiring decision anticipated on Sept. 13.

The pension fund has a current real estate allocation of 9.6% and target of 10%. Of the roughly 10% total, 6% is allocated to private real estate and 4% to public real estate investment trusts.

A spokeswoman could not immediately be reached for additional information.