Illinois Municipal Retirement Fund, Oak Brook, is searching for an index provider to deliver a multifactor based domestic small-cap equity benchmark for an internally managed portfolio.
The $50.4 billion pension fund has issued an RFP in order to provide its internal management team "with additional tools that will be needed to expand the further diversify the total portfolio," said Angela Miller-May, chief investment officer, in an email.
IMRF currently has an internally managed domestic large-cap equity portfolio consisting of two strategies totaling $4.7 billion in assets, Ms. Miller-May said. She did not provide further information on how a new small-cap portfolio would be funded.
The RFP is available on IMRF's website. Proposals are due on March 17. A timeline for a selection has yet to be determined.