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

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of