Request For Proposals

November 6, 2017

Minority and/or Women-Owned Business Enterprise (MWBE) Passive Equity Index Fund(s) Investment Manager Services Search

On October 16, 2017, IMRF requested proposals from minority-owned investment management firms offering passive equity index fund(s) services. Responses were due no later than November 3, 2017. The Quiet Period for this process is the period of time beginning when the RFP was issued and ends when a selection has been made by the IMRF Board of Trustees or the process is declared to be complete. The Quiet Period for this search ended February 23, 2018.

After evaluating the responding firms/strategies on people, process, performance, price, and other considerations, the IMRF Board of Trustees approved an allocation of up to $1 billion to Piedmont Investment Advisors for a Russell 1000 Growth Index mandate, subject to satisfactory legal due diligence.