Illinois Police Officers' Pension Investment Fund, Naperville, is searching for its first chief investment officer.
The pension fund is seeking a CIO who will lead its investment operations, confirmed Richard A. White, interim executive director.
The Police Officers' Pension Investment Fund was created by a law signed in December 2019 by Illinois Gov. J.B. Pritzker consolidating 649 downstate and suburban police and fire pension plans into two new pension funds.
The law created the Illinois Police Officers' Pension Investment Fund and the Illinois Firefighters' Pension Investment Fund, which together consolidate an estimated $15 billion in assets.
The police officers' fund will manage an estimated $8.3 billion of those assets, according to the job listing. The law calls for the transfer of investment authority for the municipal pension funds' assets to the Police Officers' Pension Investment Fund no later than June 30, 2022.
Applications are due at 4:30 p.m. CST on Jan. 15. The job listing is available on the IGFOA's website.
The pension fund's new permanent board of trustees, which is scheduled to be appointed in January, is currently scheduled to interview candidates Feb. 12. Mr. White said he hopes a selection will be made at that meeting, and that a CIO will be in place as soon as possible following contract negotiations.