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Illinois Plans Launch Joint RE Search
The Illinois Municipal Retirement Fund (IMRF), Illinois State Universities Retirement System, and Public School Teachers' Pension and Retirement Fund of Chicago are jointly seeking a RE search.
October 6, 2008
Ennis Knupp + Associates has issued an RFP for a joint search being conducted by the $24 billion Illinois Municipal Retirement Fund (IMRF), the $15 billion Illinois State Universities Retirement System (SURS) and the $12 billion Public School Teachers' Pension and Retirement Fund of Chicago (CTPF).
The three plans, referred to as the "Consortium" in the RFP, are seeking "a qualified discretionary real estate manager to implement and execute a fund-of-funds (the "Fund") which will target emerging investment managers and minority and women-owned business enterprises ("MWBE") as defined in the Illinois Statutes. The Consortium is seeking one fund manager ("Manager") to invest a mandate currently estimated at $200 million over a three to five year period," the RFP states.
Firms interested in bidding for the mandate should submit proposals by Oct. 21. Lynnette Mays, senior investment analyst at Ennis Knupp + Associates is assisting with the search. She did not return calls by press time, however.
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