Tuesday, 4 August 2015
Last updated 4 min ago
Dec 13 2006 | 11:49am ET
The $39 billion Teachers' Retirement System of the State of Illinois has established initial allocations for absolute return and real return strategies as part of a new asset allocation plan approved by the TRS board of trustees this month.
The target allocation for absolute return investments is 2.5% of TRS’s total portfolio and 10% of its total fund for real return investments. The board also authorized a search for absolute return adviser/manager.
Under the new plan, target allocations for domestic equities and fixed-income fell from 41% to 30.5% and 23.0% to 15%, respectively. International equities and private equity, on the other hand, got boosts from 15% to 20% and 6% to 8%, respectively. The 14% target allocation for real estate investments will remain unchanged.
The board also made a $50 million to J.C. Flowers II, a buyout fund focused on the financial services sector and $100 million to Providence Equity Partners VI, a buyout fund focused on the media and telecommunications sectors.
In addition, the board also hired Copper Rock Capital Partners to manage $50 million in small- and mid-cap growth domestic equities as part of TRS’s $500 million emerging managers program. To date, TRS has committed $125 million to the program.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…