Searches and Hires

Illinois SURS launches search for infrastructure, real estate managers

Illinois State Universities Retirement System, Champaign, is searching for private real estate and infrastructure managers to which it plans to commit a total of up to $350 million.

A request for information posted on the $18 billion pension fund's website said that SURS plans to commit between $100 million and $175 million to each individual private core real estate fund and between $50 million and $100 million to each private non-core infrastructure or non-core real estate fund before the end of the year.

The RFI is the result of the creation in September of a 6% target to real assets, which includes real estate and infrastructure. Previously, SURS had a 6% target just to real estate.

The RFI is available on SURS' website. Interested managers can submit and update information at any time, the RFI said, because recommendations will be made throughout the year.

Real assets consultant Callan is assisting.

SURS spokeswoman Beth Spencer could not be reached immediately to provide further information.