As part of its regularly scheduled February meeting recently, the Illinois Teachers Retirement System increased its allocation to a long/short equity hedge fund. The move included a $100 million allocation to the fund, as well as other commitments to managers in a number of asset classes.
According to a report from Infovest21, the pension fund is currently invested in two separate funds with the same manager that received the increased commitment. Those two investments total nearly $200 million.
Absolute return represents 5.3%, or $2.26 billion, of the Illinois Teachers $42.8 billion portfolio. The largest category in the portfolio is U.S. equities at 22.3% of assets, or $9.1 million.
Learn more about Illinois Teachers Retirement System’s increased allocation online from Infovest21.