TRS terminates Bear Stearns' US$747m brief

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US - The US$34.9bn Teachers' Retirement System of Illinois (TRS) has terminated Bear Stearns from a US$747m large cap value equity brief for performance and organisational reasons.

In addition, the board authorised searches for both a private equity consultant and general consultant, noting incumbent Callan Associates is allowed to re-bid. TRS put Bear Stearns on its watch...

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