Illinois State Universities Retirement System (SURS) has issued a request for proposal for real estate and infrastructure fund managers.
With the help of investment consultant Callan, the $18.5bn (€16.4bn) pension fund is planning to invest $350m with a number of fund managers this year.
It plans to commit between $100m and $175m to a core/core-plus industrial real estate strategy and between $50m and $100m to a diversified, non-core real estate fund.
The pension fund said it also plans to invest in closed-ended, non-core infrastructure funds.
Illinois SURS said it will favour funds that mostly target OECD markets.
