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Illinois Teachers moves $535 million to alternatives
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Illinois Teachers Retirement System, Springfield, committed a total of $535 million to four alternative managers since the end of October, said R. Stanley Rupnik, interim executive director and CIO, during an investment committee meeting held remotely Wednesday.
Investment staff of the $53.5 billion system have discretion to make manager changes without board approval.
The largest commitment, up to $300 million, from the $8.2 billion real assets portfolio went to existing manager
Starwood Capital Group for investment in Starwood Distressed Opportunity Fund XII, a real estate fund. Starwood currently manages $650 million for the teachers fund.
Existing manager Aspect Capital received an additional investment of $100 million for Aspect Systematic Global Macro U.S. Fund. Aspect currently manages $253 million within the system s $5.5 billion diversifying strategies portfolio.