Illinois Teachers adds $1.1bn across various alts strategies

The Teachers’ Retirement System of Illinois (Illinois TRS) made seven allocations across six managers in a $1.1 billion build-out of its alternative investment allocations across its $52 billion portfolio.

The mandates were spread across the system’s private equity, global income and real asset portfolios and come as the board has chosen StepStone Group as its investment consultant for private equity opportunities. The La Jolla, California-firm’s five-year contract begins on January 1, replacing incumbent consultant TorreyCove Capital Partners.

StepStone was also re-hired to advise on Illinois TRS’ real estate . . .

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