Illinois State Board of Investment, Chicago, is searching for a fixed-income manager to run $150 million in a senior secured loans strategy, confirmed William Atwood, executive director of the $11 billion pension system.
McDonnell Investment Management, which ran the assets in a similar strategy, is the incumbent and may rebid; the search is being conducted because McDonnell was recently acquired by THL Credit Advisors.
Investment consultant Marquette Associates is assisting.
The RFP is available on the pension system's website at www2.illinois.gov/isbi/Pages/RFP.aspx. Proposals are due at 3 p.m. CDT Aug. 3. A hiring decision is expected by Sept. 23.
Separately, the board plans to reissue an RFP later this month for a minority firm to run $30 million in an active domestic small-cap core equity strategy. Mr. Atwood said few proposals were received in an earlier RFP and board officials hope to receive more responses.
