Illinois Teachers' Retirement System, Springfield, issued an RFP for an investment consultant to assist investment staff in selecting private debt and credit managers, said a news release Thursday.
As of June 30, TRS had $15.4 billion in its global income portfolio, of which $2.9 billion was managed in private debt/credit, said David Urbanek, the $60.9 billion pension fund's spokesman, in an email.
Aksia currently is TRS' private debt/credit consultant. The firm was hired for a five-year contract in 2018. Aksia's current contract will end soon, and the firm can rebid, Mr. Urbanek said.
The RFP is available on the pension fund's website Proposals are due by 2 p.m. CST on Dec. 15. Finalist reviews will take place in March or April.
The start date of the selected consultant's contract was not specified in the RFP, but the document said the contract would not exceed five years.
The consultant that is hired will be expected to research and source private debt/credit investment opportunities in the asset class, monitor commitments and performance, and support TRS administrative activities, according to the news release.
