Institutional Investors

Illinois hires Lasair for emerging manager programme expansion

by

The Teachers' Retirement System of the State of Illinois continues to expand its emerging manager and real return initiatives via new hires and searches.

The latest hire is Lasair, which the board admitted into the $29 billion system's emerging managers programme with a $25 million mandate for its absolute return long/short equity strategy. The New York fund of funds group was launched in early 2008 by Carrie McCabe, formerly of Financial Risk Management and Blackstone. McCabe won initial backing from GE's asset management group. Tanya Beder, former head of Tribeca Global Management and