RFP - Minority and/or Women-Owned Business Enterprise (MWBE) Passive Equity Index Fund(s) Investment Manager Services Search

The Illinois Municipal Retirement Fund (IMRF) is requesting proposals from minority-owned investment management firms offering passive equity index fund(s) services.  IMRF has at least $100 million to allocate.  Multiple managers will be considered for the mandate.

A minority investment manager is defined as a qualified investment manager that manages an investment portfolio and meets the definition of “minority owned business,” “women owned business” or “business owned by a person with a disability” as defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.  Minority firms must be 51% or more owned by individuals that are minorities, women or persons with a disability and are citizens or lawful permanent residents of the United States.

Strategies must be managed, including all processes, portfolio construction, and implementation, by the investment management firm submitting the response to this RFP.  Strategies contracted out to another investment manager and/or firm (a sub-advisor) will not be considered.

Proposals must be received no later than end of business day on November 3, 2017.  All proposals shall become the property of IMRF.

The Quiet Period for this RFP begins October 16, 2017.  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 1.3 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 in the Business Opportunities section of the Investments tab on the IMRF website at www.imrf.org.  All questions must be directed InvestmentsResponses@imrf.org.