May 11, 2020
Opportunistic and Distressed Private Credit Search
On May 11, 2020, IMRF requested proposals from opportunistic and distressed private credit fund managers targeting global, North American or European mandates. Responses were due no later than May 31, 2020. 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 on July 31, 2020.
After evaluating the responding firms/strategies on organization, team, strategy, process, market, performance, terms and other considerations, the IMRF Board of Trustees approved the following:
- Authorize a commitment of up to $25 million to H.I.G. Bayside Loan Opportunity Fund VI, L.P., subject to satisfactory legal due diligence.