FUNDRAISING NEWS | September 20, 2024
The Illinois Police Officers’ Pension Investment Fund (IPOPIF) is seeking an investment consultant to provide advisory consulting services across the private equity, private credit, real estate, and infrastructure private credit vertices.
The search, posted by the pension on September 18, follows on a search it posted in July for a private credit investment manager to build a diversified private credit platform. Board selection in that search is targeted for December, and the new private markets consultant will be expected to monitor this platform and assist in further development of the private credit allocation.
The latest consultant search comes as IPOPIF seeks to make material shifts in its target allocations, in the long term increasing private equity target to 7% from a current allocation of 0%, private credit to a target of 5% from 0%, real estate to a target of 5% from 2%, and infrastructure to 3% from 0%.
IPOPIF said it is seeking a consultant with broad reach and strong domain expertise in all private markets vertices and prefers a manager with $50B or more in assets under management. General consultant Verus Advisory is assisting on both the private credit and private markets consultant searches.
For the private markets consultant search, there is an October 2 deadline for requesting information. The highest-caliber candidates will then be invited to submit a proposal, with a November 8 deadline for comprehensive proposals. The IPOPIF board will then determine its top qualified candidates in December, holding interviews and selecting the winner in January 2025.
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