Illinois State Board of Investment, Chicago, is searching for a minority investment firm to manage $30 million in active domestic small-cap core equities, confirmed William Atwood, executive director of the $11.9 billion retirement system.
The portfolio will be benchmarked to the Russell 2000 index.
Funding will come from rebalancing, Mr. Atwood said. Consultant Marquette Associates is assisting.
Mr. Atwood said the retirement system is expanding its existing active emerging managers program. “We've seen a lot of activity in the small-cap space with emerging managers,” he said in a telephone interview.
The RFP is available on the board's website at www2.illinois.gov/isbi/Pages/RFP.aspx.
Proposals are due at 3 p.m. CDT May 21. Finalist interviews are slated for June 14, with a potential hiring decision at the board's June 15 meeting.
