SURS searching for 2020 infra equity manager

The US public pension is on the lookout for firms offering infrastructure fund opportunities.

Institution: State Universities Retirement System of Illinois
Headquarters: Champaign, United States
AUM: $20.10bn
Allocation to alternatives: 14.3%
Bitesize: $50-100m

State Universities Retirement System of Illinois has issued an RFP for prospective infrastructure equity managers in accordance with the pension’s 2020 investment plan.

SURS is intending to commit $425 million across four real assets strategies in 2020. Each of the strategies will receive a commitment of between $50 and $100 million, with one of the strategies being focused on infrastructure equity.

The $20.10 billion US public pension is searching for managers offering either open or closed-end fund opportunities. The fund must have a target size of at least $500 million in equity capital.

The prospective fund must also have a sector-diverse portfolio and be primarily targeting investments in OECD countries.

SURS has a 1.0 percent target allocation to infrastructure that currently stands at 0.7 percent.

As illustrated below, SURS has historically committed to infrastructure vehicles managed by Macquarie Asset Management, having previously committed an aggregate of $140 million to funds II, III and IV of the firm’s flagship infrastructure series.

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