Illinois State Universities Retirement System, Champaign, is searching for one or more non-core private commercial real estate debt managers, said an announcement on the $16.9 billion pension fund’s website.
The expected commitment size is between $20 million and $60 million total. The desired vehicles are commingled funds. The search is being conducted for due diligence purposes, according to the announcement.
The RFP is available on the pension fund’s website. Proposals are due by 4:30 p.m. CDT on May 19. A hiring decision is expected Sept. 14.
Investment consultant NEPC is assisting with the search.
The pension fund has a 6% real estate target.
A spokeswoman could not immediately be reached for additional information.