Illinois Muni Commences $50M US Real Estate Manager Search

The Illinois Municipal Retirement Fund (IMRF) has issued an RFP for a closed-end value-add and opportunistic U.S. Residential Real Estate manager, according to the fund’s consultant Callan Associates.

Search parameters include single or multiple strategy equity funds that are exclusively focused on residential real estate. The RFP is for a $50M mandate. IMRF is seeking proposals from strategies expected to have 75% of capital invested in residential properties and a proven track record, with $250M in AUM.

Proposals must be submitted no later than 11:59 p.m. CT on Friday, November 22.

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