Illinois SURS Commences Search for Convertible Bond Mandate of up to $500M

The State Universities Retirement System (SURS) of Illinois has initiated a search for managers offering long-only convertible bond strategies for a mandate ranging from $250M to $500M.

The pension said it will consider both US and global strategies, and may award the mandate to more than one finalist. Up to three strategies may be submitted by a proposing firm. Respondents must have a minimum firm-level AUM of $1B, of which at least $700M is dedicated to convertible bond strategies. Meketa is assisting the pension in the search.

Illinois SURS will accept proposals until March 7 at 4:30 p.m., Central time. Responses will be evaluated throughout April, and a finalist may be selected by June 5.

Written By: Dakota

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