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SURS Board Approves Investment Actions, Reviews

March 15, 2017 - 15:17
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The State Universities Retirement System’s (SURS) Board of Trustees took the following actions during its March 10 meeting:

  • SURS watch list criteria were discussed. Trustees agreed to continue to examine the standards and benchmarks used for gauging manager performance.  No managers were added to the watch list.

  • The PAAMCO Prisma Holdings, LLC merger was approved. Prisma Capital Partners, LLC will continue to manage the KKR Prisma Codlin Fund LLC and PAAMCO will continue to manage the Newport Monarch Fund, LLC.

  • Lombardia Capital Partners was terminated as manager of $116 million in a small capitalization value strategy within the System’s U.S. equity portfolio. The assets will be liquidated. Lombardia continues to manage $23 million within SURS ­­­­­­­­­­­­­­non-U.S. equity portfolio.

  • The Private Equity Fund of Fund Search initiated in June 2016 was rescinded. Staff will review the System’s approach to the asset class.

  • The corporate governance 2017 Glass Lewis International Guidelines and Public Pension Guidelines were approved and adopted.

  • Fee terms will be negotiated with current custodian, The Northern Trust Company, as part of its existing contract.

For more information contact:
Beth Spencer, Communications Manager
State Universities Retirement System
1901 Fox Drive
Champaign, IL 61820
(217) 378-7512

SURS Board Approves Investment Actions, Reviews