Illinois Municipal Retirement Fund, Oak Brook, is searching for at least one U.K.- or European-based private equity fund focusing on buyouts or growth companies.
At least $50 million in total will be committed, according to the RFP. The $33.8 billion defined benefit plan will not consider a fund of funds.
IMRF has a target private equity allocation of 5% of plan assets, part of a broader alternative investment target of 9%.
The RFP is posted on the pension fund's website. Proposals are due May 21. A selection is expected by Aug. 22.
John Krupa, IMRF spokesman, could not be reached for further details.