The Illinois State Universities Retirement System is searching for opportunistic real estate managers to oversee $150 million, Pensions & Investments reports. The Champaign-based retirement system aims to issue a request for proposal (RFP) in mid-October for the same.
The move is part of a plan to reach a 10 percent target for real estate from the current level of approximately 7 percent. The $13.4 billion defined benefit plan will be assisted by investment consultant Callan Associates in the search process. The system may appoint more than one manager.
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