News & Analysis

In brief: IMRF opens search for minority-owned PE managers

The pension is seeking managers pursuing a broad range of private equity strategies.

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The $56.8 billion Illinois Municipal Retirement Fund has put out an RFP for minority-led private equity firms.

Says the pension: “The Illinois Municipal Retirement Fund (IMRF) is requesting proposals from all qualified, US-based minority-owned, women-owned or persons with disabilities owned business enterprise (“MWDBE”) professional firms interested in providing private equity investment management services.

“Proposals must offer a closed-end commingled fund structure, and private equity subsectors can include venture, growth, lower middle-market buyout, middle-market buyout, co-investment, distressed and special situations. IMRF has at least $50 million to allocate. Multiple firms may be considered for the mandate. Firms may submit proposals for one or more strategies.”