Specifically, the TRS Board of Trustees has approved a Request for Proposal (RFP) for transition managers. According to a press release, the search is being conducted as part of recurrent contract rebidding. The search ends December 5, 2008.
The RFP is posted on the TRS Web site at http://trs.illinois.gov/subsections/investments/searches.htm .
TRS also said that it terminated Batterymarch Financial Management, Inc. for performance reasons. The firm managed $215 million in small cap growth domestic equity. Proceeds from the termination will be transferred temporarily to an optimized index account, according to TRS.
The Teachers’ Retirement System of the State of Illinois provides retirement, disability, and survivor benefits to 355,584 members employed by elementary and secondary public schools located outside the city of Chicago.