Illinois firefighters fund announces finalists in consultant search

Illinois Firefighters’ Pension Investment Fund, Lombard, named four finalists in its search for a general investment consultant.

The fund’s interim board of trustees interviewed Marquette Associates, Meketa Investment Group, RVK and Verus Advisory at its Oct. 27 meeting, a spokesman confirmed.

A timeline for a selection has yet to be determined. The pension investment fund issued an RFP in September.

The Firefighters’ Pension Investment Fund was created by a law signed in December 2019 by Illinois Gov. J.B. Pritzker consolidating 649 downstate and suburban police and fire pension plans into two new funds: the firefighters’ fund and the Illinois Police Officers’ Pension Investment Fund, which together consolidate an estimated $15 billion in assets.

According to a fact sheet from the Illinois Municipal League, the firefighters’ fund will manage an estimated $6.3 billion in assets.

The law calls for the transfer of investment authority for the municipal pension funds to the Firefighters’ Pension Investment Fund no later than June 30, 2022.

via Pensions & Investments

November 18, 2020 at 08:54PM

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