The end of 2025 shaped up to be an active period for institutional searches, with Dakota tracking a series of RFPs that collectively represent well over $12.7B in potential allocations across public equities, fixed income, and global strategies including real estate, private credit, and infrastructure.
Among the searches were several multi-billion-dollar mandates, including $5B in total searches across public equities and fixed income from Ircantec, a $3.4B public equities and fixed income search from the European Central Bank, and a $3B fixed income RFP issued by the Pension Benefit Guaranty Corporation. In addition to these headline searches, sizable mid-range mandates included a $500M global/international equities RFP from the Chicago Teachers’ Pension Fund, while Cook County Annuity and Benefit Fund is pursuing $350M in public equities and fixed income strategies.
Read on for a comprehensive look at all the manager searches issued by public pensions across asset classes. To learn more and subscribe to our Searches, click here!
Public Equities & Fixed Income
Plan Name: European Central Bank
Amount: $3.4B
Deadline: Jan. 22, 2026
Plan Name: Cook County Annuity and Benefit Fund
Consultant: Callan
Amount: $350M
Deadline: Jan. 9, 2026
Fixed Income
Plan Name: Ircantec
Amount: $3.3B
Deadline: Jan. 12, 2026
Plan Name: Pension Benefit Guaranty Corporation
Amount: $3B
Deadline: Dec. 19, 2025
Global/International Equities
Plan Name: Ircantec
Amount: $1.7B
Deadline: Feb. 3, 2026
Plan Name: Chicago Teachers’ Pension Fund
Consultant: Callan
Amount: $500M
Deadline: Jan. 23, 2026
Plan Name: Boston Retirement System
Consultant: NEPC
Amount: Not disclosed
Deadline: Jan. 13, 2026
Real Estate
Plan Name: Public Employees’ Retirement System of Mississippi
Consultant: Callan
Amount: $200M
Deadline: N/A
Private Credit
Plan Name: Chicago Policemen’s Annuity & Benefit Fund
Consultant: NEPC
Amount: $120M
Deadline: Jan. 5, 2026
Infrastructure
Plan Name: The Oklahoma Tobacco Endowment Settlement Trust
Consultant: Innovest Portfolio Solutions
Amount: $100M
Deadline: Dec. 31, 2025
All
Plan Name: City of Rockford Pension Plan
Amount: $100M
Deadline: Dec. 18, 2025
Plan Name: New Bedford Contributory Retirement System
Consultant: Segal Marco
Amount: Not disclosed
Deadline: Dec. 12, 2025
