TRS invests in PE, eyes opportunistic real estate

The $30 billion Teachers’ Retirement System of the State of Illinois (TRS) will commit up to $1.2 billion to private equity, and will focus on opportunistic investments in real estate including emerging manager initiatives, as it aims to reach its new long-term allocations in those sectors by year end.

In real estate, where there is also a search underway for a consultant, the fund has a new strategic target of 14 per cent.

In private equity the new allocation will see an increase from 8 to 10 per cent of the fund, and the board has approved a tactical plan for the fiscal year that calls for commitments of between $700 million and $1.2 billion during the next year.

TRS hired an alternative investments officer, Zak Doehla, in June who will oversee the private equity portfolio which includes nearly 70 private equity relationships.

The fund has undergone a number of organisational changes, with a new law enacted in the summer which terminated the employment of TRS executive director, Jon Bauman, a provision that the fund was not consulted about in the final days before the law was approved.

Sponsored Content

The chief investment officer, Stan Rupnik, is acting exective director and there is a search underway for a permanent executive director under search firm, Hudepohl & Associates.

That law also saw the termination of three trustees, and six new trustees have been appointed.

The fund is also looking for a global macro and global large cap manager.

Leave a Comment

Sort content by

CalPERS examines adopting SDGs

The $357 billion pension plan will examine aligning its portfolio with the UN’s SDGs, which would give the fund’s ESG engagement a more keen focus on social objectives such as ending poverty.

QSuper chair Karl Morris opens up

In this Q&A, the chairman of Queensland’s $72 billion superannuation fund reflects on going public offer, launching an insurance arm, and the much-debated representative trustee board model.

Investors face unprecedented change

AustralianSuper CIO Mark Delaney and CFSGAM’s Mark Lazberger told the CFA Australian Investment Conference that everything from technology to diversity was evolving to reshape the profession.

Most popular stories of 2017

This year, as you might expect, our readers placed six investor profiles among our top 10 most read stories. See what other types of stories topped the list and find out what was No. 1.

Investors launch Climate Action 100+

Hundreds of global investors, including CalPERS and the Swedish buffer funds, have come together to pursue low-carbon goals by working actively with big companies and publicising their progress.

Inside Canada’s exemplary pensions

A report by the World Bank showcases the features of the Canadian model that have made it the poster-child of good pension design.

Previous