Illinois Municipal Retirement Fund, Oak Brook, is searching for at least one non-core commingled real estate manager to run at least $100 million, confirmed John Krupa, spokesman.
The $25.5 billion fund is conducting the search to increase its real estate allocation to its 6% target. As of June 30, the pension fund had an actual allocation to real estate of 2.8%. Mr. Krupa wrote in an e-mail that funding will come from cash or index investments.
Proposals are due at 5 p.m. CDT Aug. 8. First-round interviews are scheduled for Sept. 6-7 and finalist interviews on Oct. 25. A board vote on an investment committee recommendation will take place on Oct. 26.
The RFP is available online.
Callan Associates is assisting.
