Updated with correction
Illinois State Board of Investment, Chicago, is searching for a minority-owned transition manager to add to its transition management pool, according to an RFP.
The RFP is posted on http://www.isbi.illinois.gov.
Proposals are due Aug. 16. The board, which oversees $9.9 billion in defined benefit assets, could make a decision Sept. 24.
Marquette Associates, ISBI's consultant, is assisting in the search.
The board seeks to pre-qualify firms to facilitate transitions as needed. Contracts are negotiated with each transition.
In March, ISBI selected Knight Capital Group, Mellon Transition Management, Northern Trust, and State Street to join BlackRock, J.P. Morgan and Frank Russell in its transition management pool.