Institutional Investors

Illinois Teachers adds to absolute return mandate, begins asset allocation study


The Teachers' Retirement System of the State of Illinois allocated an additional $279 million to absolute return strategies at the end of 2008.

K2 Advisors' mandate was increased by $100 million, while Bridgewater Associates won a mandate to directly manage a $179 million absolute return mandate. K2 already managed $236 million as part of the $30 billion retirement system's initial foray into funds of hedge funds. Bridgewater is an existing global tactical asset allocation manager for the pension fund and already handled $506 million in the real return portfolio.