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Illinois Teachers raises long-term real estate target

by Reg Clodfelter

The $43.6 billion Teacher's Retirement System of Illinois has raised its long-term target allocation to real estate from 14 percent of its total portfolio to 15 percent, which, considering the real estate portfolio’s actual allocation is approximately 12.5 percent, could result in more than $1 billion invested into the asset class in the coming years.

“After an extensive review [by] the system’s investment consultant and investment staff of the current economy and markets, as well as expectations for the future, the board of trustees decided that a small increase in the long-range target for real estate was prudent to help expand the overall portfolio on behalf of our members,” explains Dave Urbanek, director of communications for TRS.

Urbanek adds that TRS would be leaving all options on the table regarding investment options moving forward. There is currently no set timetable for TRS to reach

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