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Illinois Teachers puts $1.6 billion in alternatives.

Publication: Pensions & Investments
Publication Date: 28-MAY-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: Illinois Teachers puts $1.6 billion in alternatives.(Bridgewater Associates Inc. and Pacific Investment Management Co. being hired to manage pension funds)

Article Excerpt
Byline: Christine Williamson

SPRINGFIELD, Ill. - The $39.7 billion Teachers' Retirement System of the State of Illinois invested more than $1.6 billion in new alternative asset classes.

At their May 18 meeting, trustees hired Bridgewater Associates Inc. to manage $500 million and AQR Capital Management LLC to manage $250 million in global tactical asset allocation or real return assets. Pacific Investment Management Co. was hired to manage $400 million in global inflation-linked bonds.

K2 Advisors LLC and Grosvenor Capital Management LP were hired to manage $250 million each in hedge funds of funds as part of the TRS allocation to absolute-return strategies. Stan Rupnik, chief investment officer, told trustees that more assets likely will be awarded to the...

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