The $38.4 billion Teachers’ Retirement System of the State of Illinois is boosting its 130/30 portfolio by increasing its commitments to a pair of existing managers.

TRS is increasing funding in its large cap core 130/30 managers to reach the target allocation of 10% of the domestic equity portfolio.

In October 2007, Analytic Investors and JP Morgan were hired to each manage 3.5% mandates, or $500 million. Yesterday, the plans Board of Trustees authorized an increase in the mandates to 5% each in an effort to reach the target allocation. Total funding of approximately $200 million will come from rebalancing the domestic equity asset class.

The plan’s Board of Trustees has also awarded €50 million (approximately $77.4 million) to Oaktree Capital Management European Principal Opportunities Fund II, a distressed debt fund. The source of the funds is cash and passive/enhanced index accounts.