Institutional Investors

Illinois Teachers adds $150m allocation to Pine River


Late last year, the $38 billion Illinois Teachers’ Retirement System board of trustees approved a $150 million allocation to Pine River Capital Management.

The Minnetonka, Minnesota firm, which runs a popular tail risk strategy in a fund called the Nisswa fund, as well as the Pine River Fixed Income Fund, will be a manager in the pension funds’ growing absolute return portfolio. It trades in a full range of securities, including convertible bonds, credit instruments, equities, mortgages and municipal bonds.

Illinois Teachers also approved a rebalancing of its domestic and international stock portfolio