RFP - IMRF Global Customized Private Equity Separate Account Search

The Illinois Municipal Retirement Fund (“IMRF”) is requesting proposals from investment management firms offering a Global Customized Private Equity Separate Account. Investment managers must be able to make global primary fund commitments, including minority-owned managers (as defined by the Illinois Pension Code) and opportunistically invest in secondary funds and co-investments, as well as have the ability to transfer in, manage, and monitor an existing private equity funds separate account portfolio. Private equity subsectors can include buyout, growth equity, venture capital, mezzanine, and special situations. IMRF has at least $50 million to initially allocate to this mandate.

IMRF has a preference for an Open-End Fund-of-One structure, and proposals solely comprised of commingled fund products will not be considered. IMRF has a preference for investment management firms that primarily focus on discretionary mandates in a non-advisory capacity.

Proposals must be received no later than end of business day on Friday, February 23, 2018. IMRF reserves the right to accept or reject any or all proposals submitted. All proposals shall become the property of IMRF.

The Quiet Period for this Request for Proposal (“RFP”) begins February 5, 2018. The Quiet Period for this process is the period of time beginning when the RFP is issued and ends when the investment manager is selected by the IMRF Board of Trustees or the process is declared to be complete. The requirements of the Quiet Period are in Section 1.4 of the RFP. Respondents shall not contact IMRF Board members during the Quiet Period. A respondent will be disqualified for violating the Quiet Period.

The RFP is available on the IMRF website in the Business Opportunities section under the Investments tab. All questions must be directed privatemarkets@imrf.org.