Investors - AUGUST 29, 2014

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UPDATED: Illinois TRS searches for real estate consultant, commits $300m to real estate

by Andrea Waitrovich

The $43.59 billion Illinois Teachers Retirement System has posted an RFP for a real estate consultant to manage its $5.9 billion real estate portfolio, which represents 12.5 percent of its total asset . The contract is for five years.

Submissions are due by Sept. 26. Finalists will be presented at the pension fund's Dec. 12 meeting. The RFP is available on the pension fund’s website.

Illinois TRS’ current consultant is Callan Associates.

The Illinois TRS real estate portfolio consists of 70.77 percent in core investments and 29.23 percent in specialty investments. Some 74.35 percent of the portfolio is in separate accounts with six managers, and 25.65 percent is in commingled funds; including 6.27 percent in open-end commingled funds. The majority of

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