Illinois State Universities Retirement System, Champaign, hired four systematic trend-following managers to run about $345 million within its crisis risk offset portfolio.
The $19.7 billion pension fund hired Aspect Capital, Campbell & Co. and Credit Suisse Asset Management to run about $93 million each and LongTail Alpha to run about $66 million, according to an Oct. 23 news release.
The hirings are subject to contract negotiations and represent about 1.75% of total fund assets.
SURS issued an RFP in April following the creation in September 2018 of a new 20% target allocation to crisis risk offset strategies. Within that target, the pension fund has a target of 10% of the overall fund to trend-following strategies.
Spokeswoman Beth Spencer referred questions to the news release.