The $36.8bn (€29bn) Teachers Retirement System of the State of Illinois has invested $400m of the plan's domestic equity portfolio in small/mid cap growth with asset management firm Tygh Capital Management.

The Tygh mandate is being funded through a $260m reduction of asset management firm Delaware Investment's SMID growth mandate and a $140m reduction of the small- and mid-cap core mandate managed by State Street Global Advisors. The reduction to the Delaware investment was made because its allocation had grown larger than the pension plan originally intended. The SSgA allocation was reduced to accommodate the Tygh mandate.