Illinois State Universities Retirement System, Champaign, plans to issue an RFP for a manager of a private equity fund of funds made up of underlying emerging managers, said Daniel L. Allen, chief investment officer.
Trustees of SURS, which oversees $17.5 billion in defined benefit assets, hasn’t set an allocation for the search, said Mr. Allen, who expects the RFP to be posted sometime this summer.
The RFP would seek underlying funds managed by minority-, women- or disabled people-owned emerging managers.
The RFP is still being developed, Mr. Allen said.
SURS plans to undertake the search as part of its goal to move its 5.6% private equity allocation closer to its 6% target and its effort to bolster use of emerging managers, Mr. Allen said.