May 31, 2018
Global Customized Private Equity Separate Account Search
On February 5, 2018, IMRF requested proposals from investment management firms offering a Global Customized Private Equity Separate Account. Responses were due no later than February 23, 2018. 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 May 21, 2018.
After evaluating the responding firms/strategies on people, process, performance, price, and other considerations, the IMRF Board of Trustees approved the following:
- Authorize an evergreen separate account with Goldman Sachs, with an initial commitment of up to $100 million and additional annual commitments consistent with IMRF’s Strategic Plan, subject to satisfactory legal due diligence.
- Authorize an evergreen separate account with HarbourVest Partners, with an initial commitment of up to $200 million and additional annual commitments consistent with IMRF’s Strategic Plan, subject to satisfactory legal due diligence.