Illinois State Universities Retirement System, Champaign, is searching for active emerging U.S. equity managers, said an RFP on the $16.9 billion pension fund's website.
An allocation size and funding source could not immediately be learned. The pension fund is looking for minority-, female- and persons with a diability-owned U.S. equity managers.
Small-cap value, core and growth; midcap value, core and growth; smidcap value, core and growth; large-cap value; and all-cap growth managers will be considered. Managers of managers will be considered for the U.S. small-cap core and all-cap growth strategies only.
The RFP is available on the pension fund's website. Proposals are due by 4:30 p.m. CDT on Aug. 11, with a hiring decision expected Oct. 19.
Separately, the pension fund added Piedmont Investment Advisors to its list of possible future passive managers, the announcement said. An RFP for one or more passive managers was issued earlier this year.
Also, the pension fund's board of trustees approved at its June 9 meeting a private equity pacing plan for 2017 to 2021. Under the pacing plan, $300 million will be committed to private equity funds in both 2017 and 2018, $350 million in both 2019 and 2020 and $400 million in 2021.
As of March 31, the pension fund had interim U.S. equity and private equity targets of 25% and 6%, respectively.
A pension fund spokeswoman could not immediately be reached for additional information.