People - NOVEMBER 21, 2016

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Illinois Municipal’s executive director to retire

by Jody Barhanovich

Louis Kosiba, executive director of the $34.7 billion Illinois Municipal Retirement Fund, will retire effective Dec. 31, 2017. The retirement system has begun a search for a new executive director.

The fund’s board approved a search committee to seek Kosiba’s replacement at its Nov. 18 board meeting. The committee will hire an executive search firm to assist. Internal and external candidates will be considered.

The pension fund has made numerous commitments to real estate, including a combined allocation of $115 million to three real estate funds in July and a combined allocation of €125 million ($140 million) to three European open-end core real estate funds in August.&nbs

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