Request for Proposals

August 18, 2023

Direct Lending, Opportunistic, and Distressed / Special Situations Fund Manager Search

On April 3, 2023, IMRF requested proposals from direct lending, opportunistic, and distressed/special situations private credit funds. Responses were due no later than May 1, 2023. 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 December 15, 2023.

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: