Illinois Police Officers’ Pension Investment Fund, Peoria, is searching for an active emerging markets ex-China equities manager to run about $330 million.
The $10.4 billion pension fund issued an RFP on its website for an active long-only manager as it continues to build out its long-term target allocation.
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.
During the transition of assets in the intervening years to IPOPIF from the individual municipal pension funds, the board hired State Street Global Advisors to manage passive equity portfolios, including $660 million in emerging markets equities.
The pension fund’s long-term target allocation to emerging markets equities is 6%, and the selected manager will run half the portfolio.
The RFP is available on the InHub procurement website. Registration is required. Proposals are due by 5 p.m. CDT on Aug. 16. A selection is scheduled for Oct. 18.
Investment consultant Verus Advisory is assisting.
