Illinois State Board of Investment, Chicago, issued separate RFPs for active managers to run $125 million in emerging markets small-cap equity and $70 million in international equity.
In the emerging markets search, the $13.1 billion fund could hire more than one firm, according to the RFP. The portfolio would be benchmarked to the MSCI Emerging Markets Small Cap index.
In the international equity search, ISBI is seeking Illinois-certified investment managers that are minority- or female-owned or owned by a person with a disability, the RFP said. The portfolio would be benchmarked to the MSCI All-Country World Index ex-U.S.
Information on funding for the searches could not be learned by press time.
Marquette Associates, ISBI's investment consultant, is assisting with the RFPs, which are available on the pension fund's website. Proposals for both searches are due Oct. 15. ISBI expects to make a decision in both searches Dec. 13.
William R. Atwood, executive director, could not be reached for comment.