Illinois Municipal Retirement Fund, Oak Brook, plans to search later this year for an active international small-cap equity manager to run $230 million and an active U.S. microcap equity manager to run $170 million, according to Linda Horrell, communications manager for the $21.5 billion fund.
A time frame for the search hasn’t been set.
The fund’s board seeks to raise its allocations to domestic microcap and international small-cap.
Funding will come from rebalancing IMRF’s passive index funds, Ms. Horrell said.
Callan Associates, which replaced Ennis Knupp Associates as investment consultant in December, will assist.
