People - FEBRUARY 22, 2013

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Illinois Teachers hires two advisers for real estate co-investment program

by Sara Kassabian and Andrea Waitrovich

The $38.1 billion Illinois Teachers’ Retirement System (TRS) has hired ORG Portfolio Management and Real Asset Portfolio Management as advisers in creating a co-investment program as part of TRS’ $4.6 billion real estate portfolio. The two firms will join TRS’ existing advisers and its real estate consultant Callan Associates. In the co-investment program, TRS will make direct investments in existing property holdings, to supplement current investments in the same property as part of a pooled allocation to a multi-property real estate fund.

During the 2012 fiscal year, TRS posted an 8.4 percent return, or $4.66 billion, in real estate.

Since third quarter 2011, TRS has been actively changi

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