Illinois State Board issues call for public markets manager

Illinois State Board of Investment, Chicago, is searching for a discretionary investment manager to oversee a target $500 million in active public markets, with full discretion over the selection of managers, according to an RFP on the board's website.

The board, which oversees $17.2 billion in assets, will consider increasing the size of the mandate over time and also will potentially include private market investments, according to the RFP. The asset allocation of the overall mandate will be determined by the board.

Funding will come from across the board's investment portfolio. The RFP is on the board's website. Proposals are due at 3 p.m. CDT Aug. 28. Selections are expected sometime in October.

Further details were unavailable.