Illinois State Universities Retirement System, Champaign, hired Bivium Capital to manage a $314 million global credit emerging manager-of-managers portfolio, confirmed Beth A. Spencer, a spokeswoman for the $17.7 billion pension fund, in an email.
Bivium assumes management of the portfolio from Progress Investment Management, which will close later this year. The board approved the new hire at its March 13 meeting, a news release said.
Meketa Investment Group assisted with the hire.
During the same meeting, the board also approved the recommendation of SURS' investment committee to commit $50 million to Crow Holdings Realty Partners IX. The U.S.-focused value-added real estate fund is managed by Crow Holdings Capital Partners, an existing manager.
Callan assisted with the real estate search, according to SURS' request for proposal.
