The $11.1 billion Illinois State Board of Investment is seeking to hire a U.S. midcap growth equity index fund manager, Pensions & Investments reports. The selected candidate will run a $450 million separately managed portfolio, benchmarked to the Russell Midcap Growth index.
The board will arrange the funding by terminating RhumbLine Advisers, which runs the assets in a Russell 1000 Growth index fund. In the selection process, the board’s investment consultant Marquette Associates is assisting. The Chicago-based board initially received two responses when it first issued the request-for-proposal for the manager.
Click here for the story from Pensions & Investments.
