Illinois Municipal Retirement Fund, Oak Brook, is searching for a firm or software system to provide RFP management process services for the $25.3 billion fund.
The board plans to hire one provider to assist in evaluating online RFPs for investment manager, consultant and custodial searches.
Proposal Technologies Network, the incumbent, can rebid, according to Linda Horrell, IMRF communications manager. The board is conducting the search to determine what data organizing services are available in the market. “We are not unhappy with Proposal Tech,” Ms. Horrell said.
Features the IMRF seeks include online data entry and organizing RFP response details to assist the board in efficiently analyzing and comparing proposals for investment manager and other searches, Ms. Horrell said.
It also seeks online posting of RFPs, tracking individuals who access the electronic documents, and allowing respondents to enter data to complete RFPs online and communicate with the IMRF staff, according to the RFP.
IMRF typically does about three to five investment managers searches a year, according to the RFP. Callan Associates, the fund’s investment consultant, continues to assist the IMRF in evaluating responses to RFPs for investment managers and other investment-related services, Ms. Horrell said.
The RFP is available at www.IMRF.org. Proposals are due May 2. The board expects to make a decision by June 10, although it has not set a date to select a vendor.