Oak Brook-based Illinois Municipal Retirement Fund is seeking one or more managers for its $750 million active international value equities, Pensions & Investments reports. The $26 billion fund will soon issue a request for proposal for the manager in order to diversify its equity allocation. The $667 million portfolio is currently solely managed by Brandes Investment Partners, who will continue to manage the account. The firm will shrink a $1.9 billion MSCI EAFE index fund, managed by Northern Trust Global Investments, to provide the funding. Callan Associates will assist the search.
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