Illinois Expands $500M Emerging Manager Program

May 26 2008 | 11:04am ET

The $38.7 billion Teachers’ Retirement System is expanding its emerging managers program beyond the public market asset classes. Under changes adopted by the plan’s board last week, the $500 million program will now formally include private equity, real estate and absolute return firms.

“There are a number of promising firms to which TRS has had difficulty making commitments because the program was focused on public market investments,” said Stan Rupnik, chief investment officer. “Expanding the program will help TRS better utilize young firms, including minority-and-female-owned investment managers, who can ultimately grow into increased mandates within the TRS portfolio.”

The plan’s emerging managers program targets growing investment firms that have smaller asset bases and developing track records.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...