Illinois Municipal Retirement Fund, Oak Brook, may launch a search for active emerging markets equity managers during the first half of 2023.
The $45.6 billion pension fund is considering issuing an RFP in order to diversify and decrease concentration risks within the emerging markets portfolio,…
Illinois Municipal takes aim at third Harpoon venture fund
Harpoon Venture Fund III.
The $48.3 billion pension fund s board approved the commitment to the venture capital fund at its meeting Dec. 18, according to a news release.
IMRF had committed up to $7.5 million to Harpoon Ventures Fund II in May.
Separately, the board approved slight changes in its target allocations as the result of an asset allocation review.
The targets to domestic equities, real estate and alternative investments were increased to 39%, 10% and 10%, respectively, up from their previous respective targets of 37%, 9% and 7%. Fixed income and international equities were reduced to 25% and 15%, respectively, from a respective 28% and 18%. The 1% target to cash remains unchanged.