Minority Investment Manager Utilization Goals
IMRF is committed to providing opportunities for minority investment managers. 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 Investment Management 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. This website offers a complete definition.
The IMRF Board of Trustees has adopted the following minimum goals for the utilization of Minority Investment Management firms.
Utilization Goal for Minority Investment Managers by Classification
| Classification | Minimum Goal as % of Total Fund Market Value |
|---|---|
| Minority Owned Businesses | 14% |
| Women Owned Businesses | 7% |
| Businesses Owned by a Person with a Disability | 1% |
| Total Minority Investment Managers | 22% |
Utilization Goal for Minority Investment Managers by Asset Class
| Portfolio Asset Class | Minimum Goal as a % of Asset Class |
|---|---|
| U.S. Equity | 10% |
| International Equity | 20% |
| Fixed Income | 40% |
| Private Real Assets | 12% |
| Alternative Investments | 25% |
Private Real Assets and Alternative Investments percentages are calculated using committed amounts.