Emerging and Minority-Owned Managers

Office meeting

IMRF is committed to diversity in the hiring of Emerging and Minority-owned investment managers. It is the policy of the Board to include qualified businesses owned by minorities, women, and persons with a disability in the investment manager selection process and to objectively evaluate all qualified investment manager candidates regardless of race, gender or handicap.

Emerging Investment Manager

"Emerging investment manager" means a qualified investment adviser that manages an investment portfolio of at least $10,000,000 but less than $10,000,000,000 and is a minority-owned business, women-owned business or business owned by a person with a disability as those terms are defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.

Minority Investment Manager

"Minority investment manager" means 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 those terms are defined in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.

As of March 31, 2022

African American

Classification Manager Name Asset Class Account Type
Emerging Attucks Asset Management, LLC Fixed Income Attucks Minority MOM
Emerging Basis Investment Group I Real Estate Artemis Minority Real Estate MOM
Emerging Basis Investment Group II Real Estate Direct Mandate
Emerging Base 10 Partners II Private Equity Pantheon FOF
Emerging Base 10 Partners III Private Equity Pantheon FOF
Minority Brown Capital Management, Inc. International Equity Direct Mandate
Emerging Channing Capital Management Domestic Equity Direct Mandate
Emerging Channing Capital Management International Equity Xponance Minority MOM
Emerging Capstone Development Real Estate Artemis Minority Real Estate MOM
Emerging Alpha Capital Partners - Columbus 2-Pack Real Estate Artemis Minority Real Estate MOM
Minority Earnest Partners Fixed Income Direct Mandate
Minority Earnest Partners International Equity Direct Mandate
Emerging Grain Communications Opportunity Fund III Private Equity Pantheon FOF
Emerging Grandview II Real Estate Artemis Minority Real Estate MOM
Emerging ICV Capital Partners III, L.P Private Equity Abbott Capital FOF
Emerging ICV Capital Partners III, L.P. Private Equity Direct Mandate
Emerging ICV Capital Partners III, L.P. Private Equity Pantheon FOF
Emerging ICV Capital Partners IV, L.P. Private Equity Direct Mandate
Emerging ICV Capital Partners IV, L.P. Private Equity Abbott Capital FOF
Emerging
ICV Capital Partners IV, L.P. Private Equity Pantheon FOF 
Emerging Jair Lynch - Takoma Central Real Estate Artemis Minority Real Estate MOM
Emerging JLC Infrastructure Fund I Real Estate Direct Mandate
Emerging MCB Real Estate - Liberty Place Real Estate Artemis Minority Real Estate MOM
Emerging MCB Real Estate - 1900 Clark Real Estate Artemis Minority Real Estate MOM
Emerging Semper Capital Management Fixed Income Attucks Minority MOM
Emerging TCH-Loop Capital Fixed Income Direct Mandate
Minority Vista Credit Opportunity Fund I, L.P. Private Equity Direct Mandate
Minority Vista Credit Opportunity Fund II, L.P. Private Equity Direct Mandate
Minority Vista Credit Opportunity Fund III, L.P. Private Equity Direct Mandate
Minority Vista Equity Partners V, L.P. Private Equity Direct Mandate
Minority Vista Equity Partners VI, L.P. Private Equity Direct Mandate
Minority Vista Equity Partners VII, L.P. Private Equity Direct Mandate
Minority Vista Equity Partners VII, L.P. Private Equity HarbourVest FOF
Minority Vista Foundation Fund II, L.P. Private Equity Direct Mandate
Minority Vista Foundation Fund III, L.P. Private Equity Direct Mandate
Minority Vista Foundation Fund IV, L.P. Private Equity Direct Mandate
Emerging Vistria Fund, L.P. Private Equity Direct Mandate
Emerging Vistria Fund, L.P. Private Equity Pantheon FOF
Emerging Vistria Fund II, L.P. Private Equity Direct Mandate
Emerging Vistria Fund II, L.P. Private Equity Pantheon FOF
Emerging Vistria Fund III, L.P. Private Equity Direct Mandate
Emerging Vistria Fund III, L.P. Private Equity Pantheon FOF
Emerging Vistria Fund IV, L.P. Private Equity Direct Mandate
Emerging Vistria Fund IV, L.P. Private Equity Pantheon FOF
Minority Xponance International Equity Direct Mandate
Minority
Xponance-FI
Fixed Income Direct Mandate 
Minority Xponance Russell Growth Domestic Equity Direct Mandate

Latino

Classification Manager Name Asset Class Account Type
Emerging Ativo Capital Management, LLC International Equity Direct Mandate
Emerging AUA Private Equity Fund I, L.P. Private Equity Direct Mandate
Emerging AUA Private Equity Fund II, L.P. Private Equity Direct Mandate
Emerging Brasa Capital Fund II Real Estate Artemis Minority Real Estate MOM
Minority Clearlake Capital Partners III Private Equity Abbott Capital FOF
Minority Clearlake Capital Partners V Private Equity Direct Mandate
Minority Clearlake Capital Partners V Private Equity Abbott Capital FOF
Minority Clearlake Capital Partners VI Private Equity Direct Mandate
Minority Clearlake Capital Partners VI Private Equity Abbott Capital FOF
Minority Clearlake Capital Partners VII Private Equity Direct Mandate
Minority  Clearlake Capital Partners VII Private Equity Abbott Capital FOF
Minority Clearlake Opportunities Partners II Private Equity Direct Mandate
Minority Clearlake Opportunities Partners III Private Equity Direct Mandate
Minority Clearlake Flagship Plus Partners Private Equity Direct Mandate
Minority Elion Real Estate Fund V Real Estate Artemis Minority Real Estate MOM
Emerging Estancia Capital Partners, L.P. Private Equity Direct Mandate
Emerging Frontier Global Partners International Equity Xponance Minority MOM
Minority Garcia Hamilton & Associates Fixed Income Direct Mandate
Emerging LM Capital Group Fixed Income Direct Mandate
Emerging Long Wharf Real Estate Partners IV, L.P. Real Estate Franklin Templeton Emerging Manager Real Estate FOF
Emerging Long Wharf Real Estate Partners V, L.P. Real Estate Direct Mandate
Emerging Long Wharf Real Estate Partners VI, L.P. Real Estate Direct Mandate
Emerging New Mainstream Capital II Private Equity Direct Mandate
Emerging New Mainstream Capital II Private Equity Abbott Capital FOF
Emerging New Mainstream Capital II Private Equity Pantheon FOF
Emerging New Mainstream Capital III Private Equity Direct Mandate
Emerging New Mainstream Capital III Private Equity Abbott Capital FOF
Emerging New Mainstream Capital III Private Equity Pantheon FOF
Emerging New Mainstream Capital IV Private Equity Direct Mandate
Emerging OceanSound I Private Equity Oakbrook Opportunities FOF
Emerging Olympus Property Real Estate Artemis Minority Real Estate MOM
Emerging Palladium Equity Partners V Private Equity Abbott Capital FOF
Emerging Pillar Real Estate Fund I Real Estate Oak Street Seeding Minority FOF
Emerging Ramirez Asset Management Inc. Fixed Income Direct Mandate
Emerging Ramirez Asset Management Inc. Fixed Income Attucks Minority MOM
Minority Valor Equity Partners III, L.P. Private Equity Direct Mandate
Minority Valor Equity Partners IV, L.P. Private Equity Direct Mandate
Minority Valor Equity Partners V, L.P.  Private Equity  Direct Mandate 
Minority Valor M33 II  Private Equity  Direct Mandate 

Woman

Classification Manager Name Asset Class Account Type
Emerging 1315 Healthcare Fund Private Equity Abbott Capital FOF
Emerging  1315 Healthcare Fund II  Private Equity  Abbott Capital FOF 
Emerging Applied Research Investments International Equity Xponance Minority MOM
Emerging Artemis Real Estate Partners MWBE Spruce Program Real Estate Direct Mandate
Emerging Artemis Real Estate Partners Healthcare Fund I Real Estate Artemis Minority Real Estate MOM
Emerging Artemis Real Estate Partners Healthcare Fund I Real Estate Direct Mandate
Emerging Artemis Real Estate Partners Healthcare Fund II Real Estate Direct Mandate
Emerging Artemis Real Estate Partners Fund III Real Estate Direct Mandate
Emerging Artemis Real Estate Partners Fund IV Real Estate Direct Mandate
Emerging Blue Moon Senior Housing II Real Estate Artemis Minority Real Estate MOM
Emerging Canvas Ventures 2 Private Equity Abbott Capital FOF
Emerging  Canvas Ventures 3 Private Equity  Abbott Capital FOF
Emerging Chicago Pacific Founders Fund II Private Equity Abbott Capital FOF
Emerging CRES Management Real Estate Artemis Minority Real Estate MOM
Emerging Define Ventures Fund II Private Equity Oakbrook Opportunities FOF
Emerging GlobeFlex Capital International Equity Direct Mandate
Emerging Inspired Capital II Private Equity Pantheon FOF
Emerging Integrity Fixed Income Management Fixed Income Attucks Minority MOM
Minority Longfellow Investment Management Fixed Income Direct Mandate
Emerging Luminate III Private Equity Oakbrook Opportunities FOF
Emerging Martin Investment Management International Equity Xponance Minority MOM
Emerging Oak HC/FT Partners, L.P. Private Equity Abbott Capital FOF
Emerging Oak HC/FT Partners II, L.P. Private Equity Abbott Capital FOF
Emerging Oak HC/FT Partners III, L.P. Private Equity Abbott Capital FOF
Emerging Oak HC/FT Partners IV, L.P. Private Equity Abbott Capital FOF 
Emerging Oak HC/FT Partners V, L.P. Private Equity Abbott Capital FOF 
Emerging Oak HC/FT Partners, L.P. Private Equity Pantheon FOF
Emerging Oak HC/FT Partners II, L.P. Private Equity Pantheon FOF
Emerging Oak HC/FT Partners III, L.P. Private Equity Pantheon FOF
Emerging Oak HC/FT Partners IV, L.P. Private Equity Pantheon FOF
Emerging Oak HC/FT Partners V, L.P. Private Equity Pantheon FOF
Emerging  Penzance DC Real II Real Estate Oak Street Seeding Minority FOF
Emerging Weaver C. Barksdale Fixed Income Attucks Minority MOM

Asian

Classification Manager Name Asset Class Account Type
Emerging Arcline I Private Equity Oakbrook Opportunities FOF
Emerging ARGA Investment Management International Equity Xponance Minority MOM
Emerging Croatan Investments Real Estate Artemis Minority Real Estate MOM
Emerging Khosla Ventures III, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures IV, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures Seed B, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures Seed C, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures Seed, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures V, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures VI, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures VII, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures Seed D, L.P. Private Equity Pantheon FOF
Emerging Khosla Ventures Seed E, L.P. Private Equity Pantheon FOF
Emerging Mayfield Fund XIV, L.P. Private Equity Direct Mandate
Emerging Mayfield Fund XV, L.P. Private Equity Direct Mandate
Emerging Mayfield Fund XVI, L.P. Private Equity Direct Mandate 
Emerging Mayfield Select, L.P. Private Equity Direct Mandate
Emerging Mayfield Select II, L.P. Private Equity Direct Mandate
Emerging Patch Capital Partners Fund I Real Estate Oak Street Seeding Minority FOF
Emerging Trinity Apls Capital Partners International Equity Xponance Minority MOM
Emerging Storm Ventures Fund V, L.P. Private Equity Abbott Capital FOF
Emerging Vivo Capital Fund VIII, L.P. Private Equity Abbott Capital FOF
Emerging Vivo Ventures VII, L.P. Private Equity Abbott Capital FOF

Disabled

Classification Manager Name Asset Class Account Type
Emerging Harpoon Ventures II Private Equity Direct Mandate
Emerging Harpoon Ventures III Private Equity Direct Mandate
Emerging New Port Capital Partners I Real Estate Franklin Templeton Emerging Manager Real Estate FOF
Emerging New Port Capital Partners III Real Estate Oak Street Seeding Minority FOF