# College Illinois! 529 Prepaid Tuition Program

College Illinois! 529 Prepaid Tuition Program is a Trust / Investment Trust based in Jacksonville, FL, United States.

## Overview

- **Organization type:** Trust / Investment Trust
- **Headquarters:** Jacksonville, FL, United States
- **Region:** North America
- **Address:** 500 West Monroe Third Floor, Springfield, IL 62704-1876, United States
- **Assets under management:** 799 (Altss estimate)
- **Website:** www.collegeillinois.org
- **LinkedIn:** https://www.linkedin.com/company/college-illinois

## Regulatory record

- **Reports private funds:** No

## About

The College Illinois! 529 Prepaid Tuition Program was established to help families prepay tuition and fees at Illinois public colleges and universities. It is administered by the Illinois Student Assistance Commission under the Illinois Prepaid Tuition Trust Fund. Assets include a U.S. Treasury ladder sized to future tuition payments, a diversified real estate portfolio valued at $26.8 million, and infrastructure holdings. The program also maintains positions in domestic and international equities managed by external firms such as RhumbLine Advisers and Ariel Investments, plus fixed income portfolios that include high-yield bonds. Geographic exposure centers on the United States with additional international equity coverage. The program maintains an Investment Advisory Panel that reviews risk, performance and asset allocation. Recent panel meetings occurred in June 2024 and October 2024. Service providers include Callan LLC as investment advisor since 2010, Northern Trust as custodian since 1998, Crowe LLP as auditor, Gabriel Roeder Smith as actuary, and Kutak Rock as legal counsel. The structure is a state trust rather than a private family office, with investment decisions tied to statutory requirements and annual budget approvals by the Illinois Student Assistance Commission.

## Sectors

- Real Estate
- Infrastructure
- Fixed Income

## People

- Eric Zarnikow — Executive Director of ISAC
- Rolake Adedara — Chief Financial Officer of ISAC

## Questions

### Who runs investment decisions at College Illinois! 529 Prepaid Tuition Program?

Eric Zarnikow serves as Executive Director of the Illinois Student Assistance Commission, which administers the program. An Investment Advisory Panel reviews risk, performance and allocation.

### What asset classes does the program hold?

Holdings include U.S. Treasuries, domestic and international equities, high-yield bonds, a $26.8 million real estate portfolio, and infrastructure investments.

### How is the program structured relative to external managers?

It uses external managers for equity and fixed income sleeves while retaining direct ownership of certain real estate assets through the Illinois Prepaid Tuition Trust Fund.

### Does the program participate in private equity or secondaries?

It holds a position in Camelot Acquisitions Secondary Opportunities Fund as a limited partner and previously owned an interest in ShoreBank.

### Where does the program custody assets and obtain actuarial services?

Northern Trust has served as custodian since 1998. Gabriel, Roeder, Smith and Company has provided actuarial services since 2015.

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Last updated: 2026-07-08T21:10:35.176Z

Canonical page: https://altss.com/profile/college-illinois-529-prepaid-tuition-program

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