Illinois Teachers' Retirement System, Springfield, is searching for active international equity managers to run between $50 million and $150 million each in country- and/or regional-specific portfolios.
The $67 billion pension fund is seeking managers to run specific strategies within the Asia-all country, Asia ex-Japan-all country, and/or emerging markets-Asia only regions, according to a search notice on its website.
The search notice also says "country-specific strategies may also be considered" for the top five countries in the MSCI AC Asia Pacific index. The five developed markets in the index are Australia, Hong Kong, Japan, New Zealand and Singapore.
In addition, the search notice said that while the pension fund intends to hire one ore more managers to run portfolios of between $50 million and $150 million, it may allocate funds to existing managers if preferred search candidates are not identified.
Spokesperson Dave Urbanek could not be immediately reached for further information.
As of July 31, the pension fund's actual allocation to total equities was 51.8%; its target is 52%.
Information is available on the pension fund's website. Interested managers must update product information as of June 30 in the eVestment database by Oct. 6 to be considered. A timeline for a selection was not provided.
Investment consultant RVK is assisting.