Institutional Investors

Illinois Teachers expands absolute return programme


The $38 billion Teachers Retirement System of Illinois approved an annual tactical investment plan for its $1.49 billion absolute return portfolio.

The investment plan calls for an expansion of Illinois Teachers’ investments in hedge funds to help meet the long-term goal of gradually enlarging the programme to 8% of the system’s total assets under management. Currently the portfolio represents 5% of total assets.

The highlights of the tactical plan include an increase in current commitments to BlueMountain Capital Management, Claren Road Asset Management and Carlson Capital by $150 million for each firm. Currently, each of these firms