Illinois Retirement issues RFP for U.S. residential real estate

The Illinois Municipal Retirement Fund (IMRF), a public pension fund that administers retirement, disability and death benefits for employees of local government in Illinois, has issued a request for proposals (RFP) for closed-end, value-added, opportunistic U.S. residential real estate funds.

IMRF is seeking single or multiple strategy equity funds focused on a diverse range of residential real estate options, as well as strategies that will have at least 75 percent of capital invested in residential properties. IMRF will commit a minimum of $50 million to selected residential real estate strategies.

This RFP will be posted on Oct. 28 with a deadline of Nov. 22, and will be accessible in the Business Opportunities section of the Investments tab on the IMRF website at www.imrf.org.