Institutional Investors

Illinois Teachers transfers $40m from fixed-income portfolio to fund AQR

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The Teachers’ Retirement System of the State of Illinois has committed $40 million to AQR Funds.

The pension scheme – which, with $36 billion in total assets is the 39th largest in the US – will fund the investment from its $5.96 billion fixed-income portfolio, and the allocation will target investments in the worldwide reinsurance market. Greenwich, Connecticut-based AQR currently manages $836 million in Teachers’ Retirement System assets.

The current asset allocation has Teachers’ Retirement System’s absolute return allocation at 5.4% – including fund of funds vehicles managed by Grosvenor Capital Management, K2