# State Universities Retirement System of Illinois

State Universities Retirement System of Illinois is a Pension Fund based in Champaign, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Champaign, United States
- **Region:** North America
- **Address:** 1901 Fox Drive, Champaign, IL, United States
- **Founded:** 1941
- **Assets under management:** 25192 (Altss research record) (Altss estimate)
- **Website:** surs.org
- **LinkedIn:** https://www.linkedin.com/company/surs

## Regulatory record

- **Reports private funds:** No

## About

The State Universities Retirement System of Illinois was formed in 1941 to administer retirement, disability, and survivor benefits. Suzanne Mayer leads administration while Michael Schlachter oversees investments. The plan draws statutory contributions from the State of Illinois and participating employers such as the University of Illinois System. Strategy centers on a diversified mix of private equity, real estate, and infrastructure. Current private equity exposure stands at 12.89 percent against an 11 percent target. Confirmed holdings include commitments to Clarion Lion Properties Fund, Homestead Capital USA Farmland Fund IV, IFM Global Infrastructure Fund, and Brookfield Strategic Real Estate Partners V. Geographic reach spans the United States, Asia, and global markets through funds such as Blackstone Real Estate Partners Asia III and Pantheon Global Infrastructure Fund IV. The system reports 25,192 million dollars in assets under management. It maintains additional service relationships with Northern Trust as master custodian, Aksia for private equity and real assets consulting, and Meketa Investment Group for private credit. A March 2026 Investment Committee meeting in Champaign reviewed asset allocation and manager selection. The plan also participates in ILPA and PREA. Governance structure separates statutory benefit administration from investment execution through a board of trustees and dedicated investment staff. External consultants provide independent oversight on real assets and private markets while the system retains final authority on policy and commitments.

## Sectors

- Private Equity
- Real Estate
- Infrastructure

## People

- Suzanne Mayer — Executive Director
- Michael Schlachter — Chief Investment Officer
- John Lyons — Chairperson

## Questions

### Who runs investment decisions at State Universities Retirement System of Illinois?

Michael Schlachter serves as Chief Investment Officer and oversees the portfolio. The Investment Committee of the Board of Trustees approves major allocations and manager selections.

### Does State Universities Retirement System of Illinois participate in fund commitments or only direct deals?

The system makes commitments to external funds and co-investment vehicles. Holdings include limited partner positions in Thoma Bravo Fund XVI, PAI Partners VIII, and multiple real estate and infrastructure funds.

### What asset classes receive the largest allocations at State Universities Retirement System of Illinois?

Private equity, real estate, and infrastructure form core exposures. Private equity currently represents 12.89 percent of assets.

### Which regions does State Universities Retirement System of Illinois target for investments?

The system invests across the United States, Asia, and global markets. Specific vehicles cover North American real estate and worldwide infrastructure.

### How is State Universities Retirement System of Illinois related to the State of Illinois?

The State of Illinois acts as a non-employer contributing entity that provides statutory funding. The system serves employees of state universities, community colleges, and certain state agencies.

### Does State Universities Retirement System of Illinois maintain memberships in industry associations?

The system belongs to the Institutional Limited Partners Association, Pension Real Estate Association, Council of Institutional Investors, and National Association of State Retirement Administrators.

### What external consultants support State Universities Retirement System of Illinois?

Northern Trust serves as master custodian. Aksia advises on private equity and non-core real assets while Meketa Investment Group covers private credit.

## Related profiles

- [Department for Business, Energy and Industrial Strategy](https://altss.com/profile/department-for-business-energy-and-industrial-strategy)
- [CPEG](https://altss.com/profile/cpeg)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/state-universities-retirement-system-of-illinois

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