Illinois State Board rolls with RhumbLine for $4.8 billion

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Illinois State Board of Investment, Chicago, hired RhumbLine Advisers to run about $4.8 billion in passive domestic equities, said Johara Farhadieh, executive director and chief investment officer, in an email.

The board, which oversees $24.7 billion in defined benefit plan assets on behalf of three state retirement systems, issued an RFP in October as a result of its decision to consolidate three passive domestic equity portfolios into a single portfolio replicating the Russell 3000 index, Ms. Farhadieh said at the time.

She did not identify the manager of the three portfolios, but ISBI hired BlackRock in 2018 as a strategic partner to manage a total then of $8.6 billion in passive portfolios. BlackRock was a finalist for the newly-consolidated portfolio along with State Street Global Advisors.

As of Dec. 31, the DB plans’ actual allocation to domestic equities was 26.9%; the target is 23%.

General investment consultant Meketa Investment Group assisted.

via Pensions & Investments

March 24, 2022 at 11:07AM

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