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Franklin Templeton replaces AVP Advisors as manager of Illinois pension funds’ private equity real estate emerging managers’ programme

by Forena Akthar

  • 04 Nov 2009
  • PE
  • RE

State Universities Retirement System of Illinois (SURS), Public School Teachers' Pension & Retirement Fund of Chicago and Illinois Municipal Retirement Fund have appointed Franklin Templeton to oversee their emerging managers’ programme, targeting private equity real estate funds managed by women and minorities. AVP Advisors had been selected back in Q4 2008 to manage this project, however, AVP Advisors decided to refrain from executing the mandate in August 2009 and the pension funds hired Franklin Templeton. The pension funds have committed USD 200 million to this programme.

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