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In brief: IMRF ups the ante for diverse-owned allocations

The Illinois-based LP has allocated 22% of portfolio assets to MWDBE-owned firms.

The Illinois Municipal Retirement Fund is looking for new diverse-owned GPs. The $56.8 billion pension fund plan is launching a GP procurement seeking minority-owned, women-owned, or person with a disability-owned (MWDBE) private equity firms, according to IMRF’s website. The LP committed $1.3 billion to diverse-owned GPs between 2020 and 2021. The deadline for applications will be 9 May.

IMRF surpassed its diversity goal last year to have one-fifth of portfolio assets managed by MWDBE-owned firms. The LP has now allocated $12.1 billion – 22 percent of assets – to MWDBE-owned firms.