Investment Manager of Managers Search

Money
February 3, 2020

Minority and/or Women-Owned Business Enterprise (MWBE)
Public Markets Investment Manager of Managers Search


The Illinois Municipal Retirement Fund (IMRF) is requesting proposals from minority-owned Investment Manager of Managers offering actively managed international equity and/or fixed income strategies. Proposals must offer a multi-manager solution solely utilizing underlying managers that qualify as minority owned investment managers as defined by the Illinois Pension Code. IMRF has at least $100 million to allocate. Multiple firms may be considered for the mandate(s). Firms may submit proposals for one or more strategies.


A minority investment manager is defined as a qualified investment manager that manages an investment portfolio and meets the definition of “minority owned business,” “women owned business” or “business owned by a person with a disability” as defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Minority firms must be 51% or more owned by individuals that are minorities, women or persons with a disability and are citizens or lawful permanent residents of the United States. For a complete definition, go to the following website: (30 ILCS 575/) Business Enterprise for Minorities, Women, and Persons with Disabilities Act.


Proposals must be received no later than end of business day on February 24, 2020. All proposals shall become the property of IMRF.


The Quiet Period for this RFP begins February 3, 2020. The Quiet Period for this process is the period of time beginning when the RFP is issued and ends when the investment manager is selected by the IMRF Board of Trustees or the process is declared to be complete. The requirements of the Quiet Period are in Section 1.3 of the RFP. Respondents shall not contact IMRF Board members during the Quiet Period. A respondent will be disqualified for violating the Quiet Period.


Please click here to access the RFP.


Please click here to access the FAQ's


All questions must be directed to InvestmentsResponses@imrf.org.