State Universities Retirement System (SURS) Real Assets Client and Strategy Profile

Callan, on behalf of the State Universities Retirement System of Illinois (SURS), is requesting information from qualified firms interested in providing real asset investment services, which are limited to private real estate and infrastructure.

All information and required documents are available on this page and on the SURS website. Callan expects to make investment recommendations to SURS throughout the year using information gathered via the process described in the 2019 Client and Strategy Profile for Real Assets Investment and the Fund and Track Record Summary Template.

Callan is requesting information from qualified firms to implement the objectives identified in SURS’ broad asset allocation approved in September 2018, and the real assets strategic plan and pacing study.

In 2019, investment priorities are oriented around private core/core plus real estate (debt and equity), as well as private non-core real estate (debt and equity) and private non-core infrastructure. The pacing target is $350 million for 2019; however, this could vary significantly.

SURS aims to substantially increase its investment in private assets, including real assets, over the next several years. It is anticipated that multiple investment managers will be hired in 2019. The allocation to each individual core/core plus fund is expected to range from $100-175 million and the allocation to each non-core fund is expected to range from $50-100million. The actual allocations may be different than suggested by the ranges.

In 2019, SURS seeks industrial strategies for the core/core plus allocation, and a broad range of strategies for its non-core allocation, including U.S., Europe, and Asian strategies.  U.S. and Europe strategies are higher priority than Asian strategies in 2019. Qualified female-owned, minority-owned, and disabled-owned firms are encouraged to submit information across strategies. These investment priorities will be updated periodically.

Interested parties may submit and update information at any time. Callan expects to make investment recommendations to SURS throughout the year as qualified firms come to market with products. For planning purposes, if your firm is not currently in the market with a fund that matches SURS priorities, but you expect to be in the next 12 months, we ask that you submit preliminary information for our pipeline.