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Illinois retirement fund on the hunt for MWDBE PE manager

The Illinois Municipal Retirement Fund (IMRF) is looking for a US-based Minority, Women, Disadvantaged Business Enterprise (MWDBE) private equity investment manager, according to a report by AlternativesWatch.

The $54.7 billion scheme is looking to allocate a $50 million mandate across a raft of private equity strategies including venture, growth, lower and middle middle market buyout, co-investemt, and distressed and special situations and has issued an RFP to that effect.

IMRF is said to be considering a closed-end, commingled fund structure and says that multiple firms may end up fulfilling the mandate.

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