Hedge Funds Institutional Investors

Illinois Teachers doubles hedge fund portfolio

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The Teachers' Retirement System of Illinois has approved changes to the long-term goals for three asset classes including absolute return, which will double from 2.5% to 5% of assets.

There is no specific time frame to reach the new long-term asset allocation for hedge funds, primarily because of the uncertain state funding levels for the fiscal year that begins July 1, said Illinois Teachers' spokeswoman Eva Goltermann. The additional assets will be put to work in both funds of funds and direct hedge fund investments.

The board of the $27 billion pension fund increased