Institutional Investors

Illinois Teachers adds Pine River allocation


The $38 billion Teachers’ Retirement System Board of Trustees this week approved a $150 million allocation to Pine River Capital Management.

The Minnetonka, Minnesota firm will be a manager in the pension funds’ growing absolute return portfolio and 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 to better position the system’s investments in an increasingly volatile market. The changes were recommended by investment staff during the regularly scheduled annual review of the equity asset class.