Illinois State Board of Investment, Chicago, is searching for a general investment consultant.
Marquette Associates is the consultant now for the $15.7 billion ISBI, and “has been encouraged to submit a proposal,” William R. Atwood, ISBI executive director, said in an e-mail.
ISBI issued the RFP primarily because six of nine trustees have come on the board since the first of the year, “and they want to make sure they are confident in the general consultant relationship,” Mr. Atwood said. “We issued similar RFPs in the spring for private equity and real estate” consulting firms.
“The first priorities (for the investment consultant) after conclusion of the RFP will be to review the asset allocation and review the managers currently in the portfolio, and advise the board and staff of any proposed changes,” Mr. Atwood said.
The RFP is available on ISBI’s website.
Proposals are due Sept. 11. The board expects to make a decision by Oct. 23.