The Teachers’ Retirement System of the State of Illinois is seeking investment managers to provide multiple strategies within the fund’s $32 billion equity portfolio, according to a request for proposals dated July 8.
The $86.4 billion pension system is seeking managers for public equity strategies, including: developed markets excluding the U.S.; the MSCI All-Country World Index ex-U.S.; emerging markets; India-only; and emerging markets Latin America-only. Specific allocations to managers will be based on conviction and fit, according to TRS. The overall public equity portfolio is benchmarked against the MSCI All-Country World Investable Market Index.
Eligible managers for the fund’s broad international strategies—including developed markets ex-U.S., ACWI-ex-U.S., and emerging markets—must manage at least $500 million in broad international equity strategies.
For the EM Latin America and India-only strategies, eligible managers must have a minimum of $500 million in assets, with at least $100 million dedicated to EM Latin America and India-only strategies.
Preference will be given to managers with a five-year track record of managing international equity strategies.
The deadline for submissions is August 5. RVK Inc., the pension fund’s investment consultant, will assist in the search for eligible managers. Investment data—including investment return series, characteristic data, a description of methodology, firm data, ownership detail, and product assets under management—must be provided through eVestment, with data from March 31.
The pension system provides retirement, disability, and survivor benefits to teachers, administrators and other public-school personnel employed outside of Chicago, serving more than 462,000 members, according to information from the fund.