Illinois Municipal Retirement Fund, Oak Brook, on Monday issued an RFP for at least one active non-core fixed-income manager to run a total of at least $500 million, according to a posting on the $31.4 billion pension fund’s website.
Only bank-loan, high-yield, opportunistic and emerging markets debt strategies will be considered.
Funding will come from within the pension fund’s 29% fixed-income portfolio. No managers are being terminated, said John Krupa, pension fund spokesman.
The RFP is on the pension fund’s website. Proposals are due at 5 p.m. CST Nov. 22. A selection is expected by March 21.
Callan Associates, the pension fund’s investment consultant, is assisting.