Illinois State Universities Retirement System (SURS) intends to launch a search for real asset managers in 2024, in a bid to allocate up to $250m (€230.1m) to the asset class.

The pension fund said it is planning a request for information search for managers with the help of its real assets consultant Callan.

Illinois SURS intends to invest the capital in a diversified private real estate portfolio, including equity and debt funds, as well as infrastructure and potentially agriculture equity funds.

The pension fund expects to allocate between $50m and $100m to each fund.

Throughout 2024, Illinois SURS intends to hire investment managers, with a primary focus on renewing partnerships with well-performing existing managers.

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