Buffalo Grove, Ill., is searching for an investment consultant and/or money manager for its $72 million Police Pension Fund and $65 million Firefighters' Pension Fund.
The village will consider either a non-discretionary investment consultant and/or full-service money manager for both or either funds, said Andrew Brown, the village's interim director of finance and general services.
Mr. Brown said the village issued two RFPs because the Police Pension Fund currently has non-discretionary consulting services provided by Wall & Associates and the Firefighters' Pension Fund has full-service money management provided by Sawyer Falduto Asset Management.
The boards could keep those services separate or consolidate services under one umbrella for both pension funds, Mr. Brown said. Both firms are invited to rebid.
The RFPs are available on the village's procurement website. Registration is required. Consultant proposals are due at 10:30 a.m. CST on Jan. 28, while manager proposals are due at 3:30 p.m. CST on Jan. 28. A timeline for decisions has yet to be determined.