TRS Illinois hires real estate management firms

The $51.4 billion Teachers’ Retirement System (TRS) of Illinois has hired three management firms for its $5.6 billion real estate portfolio.

All the firms were selected for five-year contracts. The three companies are Bard Consulting, Org Portfolio Management and RCLCO Fund Advisors. The firms will be available on an “as needed” basis to evaluate and consult on future co-investment opportunities.

In addition, the pension fund rehired RVK, Inc., to serve as its general investment consultant for the next five years. RVK has been the System’s general investment consultant since 2006.