January 13, 2026

The Top Investment RFPs Announced in December 2025 Key Opportunities

2:39

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

Written By: Dakota

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The Top Investment RFPs Announced in December 2025 Key Opportunities

Public Equities & Fixed Income

Fixed Income

Global/International Equities

Real Estate

Private Credit

Infrastructure

All

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