May 2025 Investment RFPs: New Mandates, Searches, and Opportunities

Who Issued Investment RFPs in May 2025? | Mandate Tracker

For the month of May, Dakota tracked 12 institutional investors issuing 14 total investment RFPs for a collective allocation of $1.69B across international and domestic public equities, private credit and private equity, infrastructure, real estate, and US fixed income. 

Among the most notable searches were those issued by the Teachers’ Retirement System of Oklahoma seeking infrastructure/real assets for an allocation of up to $440M, as well as core and non-core real estate managers for mandates of $300M each, on a yearend deadline. The New York State Deferred Compensation Board also launched an RFP for ESG active global equities mandate of approximately $100M which was due on June 9.

Read on for a comprehensive look at all the manager searches issued by public pensions across asset classes including international and US equities, private equity and credit, real assets and real estate, and US fixed income. To learn more and subscribe to our Searches, click here!

Emerging Market Equities

Plan Name: Norfolk (MA) County Retirement System

Consultant: Wainwright Investment Counsel, LLC 

Amount: $75M

Deadline: June 9, 2025

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Global Equities

Plan Name: New York State Deferred Compensation Board

Consultant: Callan

Amount: $100M

Deadline: June 9, 2025

Private Credit

Plan Name: Oklahoma Police Pension & Retirement System

Consultant: Asset Consulting Group

Amount: $50M

Deadline: May 28, 2025

 

Plan Name: Massachusetts Water Resources Authority Retirement System

Consultant: NEPC

Amount: $14M

Deadline: June 11, 2025

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Private Equity

Plan Name: Quincy Retirement System

Consultant: Meketa

Amount: $10M

Deadline: June 4, 2025

 

Plan Name: Plymouth County Retirement Association

Consultant: Meketa

Amount: $10M

Deadline: May 23, 2025

Infrastructure/Real Assets

Plan Name: Teachers’ Retirement System of Oklahoma

Consultant: AON

Amount: $440M

Deadline: December 31, 2025

Core/Non-Core Real Estate

Plan Name: Teachers’ Retirement System of Oklahoma

Consultant: AON

Amount: $300M

Deadline: December 31, 2025

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US Equities

Plan Name: Teachers Retirement System of Louisiana

Consultant: AON

Amount: Not provided

Deadline: June 2, 2025

 

Plan Name: State Universities Retirement System of Illinois

Amount: Not provided

Deadline: May 30, 2025

US Fixed Income

Plan Name: The Chicago Transit Authority Retiree Health Care Trust

Consultant: Marquette Associates

Amount: $75M

Deadline: June 12, 2025

 

Plan Name: Norwood Retirement System

Consultant: Meketa

Amount: $15M

Deadline: June 13, 2025

For more information on these searches, book a demo of Dakota Marketplace!

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Written By: Dakota