Iowa Public Employees’ Retirement System, Des Moines, and four other state systems are searching for a firm to provide divestment services to comply with a state statute prohibiting investment in companies engaged in boycotts against Israel, according to an RFP on the pension fund’s website.
Aside from the $28.7 billion IPERS, which is coordinating the search process, the other funds are the $2.2 billion Iowa Municipal Fire & Police Retirement System, West Des Moines; $401 million Iowa Public Safety Peace Officers’ Retirement System and $120 million Iowa Judicial Retirement System, both based in Des Moines; and the Iowa State Board of Regents, Urbandale, which oversees the cash and endowment assets of the $2 billion University of Iowa, $895 million of Iowa State University and $158 million of the University of Northern Iowa.
A committee representing the systems plans to make a selection, leaving each system discretion about whether to use the firm. Participating systems plan to collectively negotiate a single contract for the services, aimed at identifying companies for potential divestment.
The RFP is available on IPERS’ website. Proposals are due Nov. 18. The committee expects to make a selection Dec. 16.