[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-163168-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-163168-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","part-1-introduction-and-goal-of-the-rfp-request-for-proposals","PART 1 - INTRODUCTION AND GOAL OF THE RFP - Request for Proposals","","IMRF issues a Request for Proposals to search for private credit fund managers focused on direct lending, opportunistic, and distressed/special situations, with active fundraising mandates limited to those strategies. The RFP sets regional eligibility (US, Europe, and global focus), excludes Asia/Emerging Markets-heavy approaches, and excludes real estate/infrastructure-only mandates and certain vehicle structures such as BDCs and SBICs. The scope targets annual commitments up to $500-$600 million, evaluated by IMRF staff and Wilshire Advisors with final Board approval. 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Real estate and infrastructure debt mandates solely focused on those areas are not considered.","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"What geographic focus does IMRF require, and what regions are excluded?",{"text":67,"@type":63},"Mandates with a US, Europe, and global focus are considered. Mandates predominantly focused on Asia and/or Emerging Markets are not considered.",{"name":69,"@type":60,"acceptedAnswer":70},"When does the Quiet Period begin and what communications are prohibited?",{"text":71,"@type":63},"The Quiet Period begins on April 3, 2023 and ends when the investment management firms are selected by the IMRF Board or the process is declared complete. Respondents must direct questions to Wilshire Advisors and IMRF, and violating the Quiet Period can disqualify an RFP respondent.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},163168,1788138963,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,113,117,122],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":115,"slug":116},18,30,"letters",{"id":118,"doc_module":22,"doc_module_name":25,"category_name":119,"show_sort_weight":120,"slug":121},21,"Paper Templates",5,"papers-templates",{"id":123,"doc_module":22,"doc_module_name":25,"category_name":124,"show_sort_weight":4,"slug":125},158,"General","general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":114,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":4,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":79,"read_time":104},8814010472675,"https://avatar.qwps.com/avatar/WGlhamll","Request for Proposals\nDirect Lending, Opportunistic, and Distressed / Special Situations (“Private Credit”) Fund Manager Search\nPART 1 – INTRODUCTION AND GOAL OF THE RFP\n1.1\tINTRODUCTION - General Information\nThe Illinois Municipal Retirement Fund (“IMRF”) is requesting proposals from direct lending, opportunistic, and distressed/special situations private credit funds. Only direct lending, opportunistic, and distressed/special situations private credit funds currently fundraising will be considered. IMRF will not consider mandates solely focused on real estate and infrastructure debt. IMRF will consider mandates with a US, Europe, and global focus. Mandates predominately focused on Asia and/or Emerging Markets will not be considered. Closed-ended and open-ended product vehicles will be considered. Funds structured as BDCs or SBIC funds will not be considered. Please refer to Part 4 and Part 7 of this Request for Proposals (RFP) for qualifications for the assignment and general terms and conditions.\nIMRF intends to make annual commitments of up to $500 - $600 million to Private Credit fund(s) over the next couple years. IMRF may consider commitments for the 2023 and 2024 allocation years as part of the scope of this RFP. The long-term goal of the private credit allocation is to build a diversified portfolio with approximately 60% to direct lending strategies and 40% to opportunistic, distressed and special situations strategies. Multiple managers will be considered.\nThere is no expressed or implied obligation for IMRF to reimburse responding firms for any expenses incurred in preparing proposals in response to this request.\nIMRF reserves the right to reject any or all proposals submitted.  All proposals submitted will be evaluated by members of the IMRF Investment Department staff (“Staff”) and IMRF’s investment consultant (“Consultant”), Wilshire Advisors. The final candidate(s) will make formal presentations to the Investment Committee of the IMRF Board of Trustees (“Board”).  Selection of the investment manager(s) is subject to final approval by the IMRF Board.\n1.2\tGOAL\nIMRF is soliciting proposals from direct lending, opportunistic, and distressed/special situations private credit funds. The intent of the contractual relationship will be to establish an ongoing relationship between IMRF and the selected firm(s) for the purpose of providing IMRF with direct lending, opportunistic, and distressed/special situations private credit investments.\n1.3\tCOMPLIANCE\nBased upon the Investor’s status as an instrumentality of the State of Illinois, no placement agent, finder or other individual or entity may be retained by the Partnership, the General Partner, the Manager or any of their respective principals, employees, Affiliates, agents or service providers specifically to attempt to influence the decision of IMRF or its fiduciaries (including its trustees, staff and advisors) to invest in the Partnership in exchange for compensation that is contingent in whole or in part upon such decision, in violation of 40 ILCS 5/1-145.\n1.4\tQUIET PERIOD\nThe Quiet Period begins on April 3, 2023 and is the period of time beginning when the investment manager search RFP is issued and ends when the investment management firm(s) is(are) selected by the IMRF Board or the process is declared to be complete.\nRespondents should direct all questions and communications regarding this investment management search during the quiet period to Wilshire Advisors at \u0013 HYPERLINK \"mailto:IMRFpmRFP@wilshire.com\" \u0014IMRFpmRFP@wilshire.com\u0015 and IMRF at \u0013 HYPERLINK \"mailto:privatemarkets@imrf.org\" \u0014privatemarkets@imrf.org\u0015.\nIncumbent investment management firm respondents may communicate with the IMRF Board members during the Quiet Period but may not discuss this investment management search with IMRF Board members during the Quiet Period.  The purpose of the Quiet Period is to ensure that all prospective investment managers have equal access to information regarding the ","cbCairKr6OpBYGHQ","https://ap.wps.com/l/cbCairKr6OpBYGHQ","docx",529716,45,"English","# PART 1 – INTRODUCTION AND GOAL OF THE RFP\n## 1.1 INTRODUCTION - General Information\n## 1.2 GOAL\n## 1.3 COMPLIANCE\n## 1.4 QUIET PERIOD\n## Quiet Period FAQ","[{\"question\":\"Which private credit fund strategies does IMRF consider under this RFP?\",\"answer\":\"IMRF considers direct lending, opportunistic, and distressed/special situations private credit funds that are currently fundraising. Real estate and infrastructure debt mandates solely focused on those areas are not considered.\"},{\"question\":\"What geographic focus does IMRF require, and what regions are excluded?\",\"answer\":\"Mandates with a US, Europe, and global focus are considered. Mandates predominantly focused on Asia and/or Emerging Markets are not considered.\"},{\"question\":\"When does the Quiet Period begin and what communications are prohibited?\",\"answer\":\"The Quiet Period begins on April 3, 2023 and ends when the investment management firms are selected by the IMRF Board or the process is declared complete. Respondents must direct questions to Wilshire Advisors and IMRF, and violating the Quiet Period can disqualify an RFP respondent.\"}]","PART 1 - INTRODUCTION AND GOAL OF THE RFP - Request for Proposals | DOCX"]