Institutional Investors

Illinois Teachers evaluates responses to absolute return consultant RFPs

by

State of Illinois Teachers' Retirement System received responses to its RFP for an absolute return consultant in mid-December and is now reviewing responses and conducting due diligence, according to a spokeswoman for the pension fund.

The $29 billion pension fund plans to hire a firm to help staff identify high-quality managers and provide additional oversight for the absolute return asset class that is set to grow to 5% of the overall portfolio from an original 2.5% mandate. K2 Advisors and Grosvenor Capital Management were hired initially to manage $250 million