Illinois Municipal seeks real estate managers
The $35 billion Illinois Municipal Retirement Fund is seeking open-end core real estate fund managers. IMRF is looking to allocate at least $100 million to either a Europe or U.K.-focused open-end core real estate fund. The pension fund has issued an RFP on its website. Callan Associates, IMRF’s investment consultant, is assisting with the search. Proposals are due June 10. The pension fund has an 8 percent target allocation to real estate and a 5.1 percent actual allocation to the asset class.