Highland Park (Ill.) Police Pension Fund is searching for money managers to potentially run the entire $30 million pension fund, confirmed Nikki Larson, city finance director.
Ms. Larson said the pension fund could choose to allocate all of its assets as a result of the search. All of the current managers may rebid; Ms. Larson declined to disclose the manager lineup.
The pension fund has a target allocation range of 50% to 60% fixed income, 35% to 45% equity and zero to 5% cash.
Ms. Larson said in an e-mail that the RFP was issued to ensure the board is receiving the “best service at the best price.”
The RFP is available on the city's website. Proposals are due at 4 p.m. CDT Oct. 25. A hiring decision is expected by the end of the year.