Introduction

Opportunistic Credit RFI

The Retirement Board (“the Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (“the Fund”) is requesting proposals from qualified firms interested in providing Opportunistic Credit Investment Advisory Services (“Proposers”). The dollar size of the mandate will be approximately $40 million.

Information regarding the RFP may not be available in any other form or location. Bidders are responsible for monitoring the website. Bidders are also responsible for reviewing and completing the required documents under the Investment/Search/Documents portion of the website.

The Fund is a pension trust fund of the City of Chicago established in 1887. The Board is made up of eight members. Decisions in regards to awarding mandates shall be at the sole discretion of the Board in exercising their investment authority to ensure the prudent investment of Fund assets.

The Fund is governed by Illinois Compiled Statutes, which can be viewed at: www.illinois.gov

SERVICES TO BE PROVIDED

In order to be considered, the candidates must have either 1) an existing open-ended hedge fund vehicle, or 2) be raising a shorter-dated private fund that will invest across a broad array of global credit assets. The investment mandate should have the flexibility to capitalize on a wide range of primary and secondary credit opportunities. Examples include, but are not limited to, structured credit, corporate credit, distressed, NPLs, and hard assets. This is not intended to be a solely new origination vehicle. Fund of funds will be considered in this search. Investment vehicles that exclusively focus on direct lending and/or primary issuance will not be considered.

Professional Advisors

Legal Advisor

David R. Kugler, ESQ

Medical Advisor

Peter Orris, M.D.

SUBMISSION OF PROPOSALS

The Board’s investment consultant NEPC, LLC shall oversee the RFP process. If you are interested, you must submit an electronic copy of the complete Proposal by 5 pm November 4, 2015 to:

Search Contact:

NEPC, LLC
Attn.: Amanda Karlsson
255 State Street
Boston, MA 02109
AKarlsson@nepc.com

You must also send a hard copy of all your proposal materials to:

Regina Tuczak
Executive Director
Policemen's Annuity and Benefit Fund of Chicago
221 North LaSalle Street, Suite 1626
Chicago, Illinois 60601

Attachments

Awarded

Pending

Site Links

RFP Documents

Archived

Archives

RFP Disclaimers

PABF Proposals become the property of the Fund and these and any late submissions will not be returned. Your Proposal will be open to the public under the Illinois Freedom of Information Act (FOIA) (5 ILCS 140) and other applicable laws and rules, unless you request in your Proposal that we treat certain information as exempt. We will not honor requests to exempt an entire Proposal. You must show the specific grounds in FOIA or another law or rule that support exempt treatment. Regardless, we will disclose the successful Bidder’s name, and the substance of the Proposal. If you request exempt treatment, you must submit an additional copy of the Proposal with exempt information deleted. This copy must tell the general nature of the material removed and shall retain as much of the Proposal as possible. You will be responsible for any costs or damages associated with our defending your request for exempt treatment. You agree the Fund may copy the Proposal to facilitate evaluation, or to respond to requests for public records. You warrant that such copying will not violate the rights of any third party.

Non-Discrimination: No decisions regarding Bidders will be influenced by race, sex, color, religion, national origin, age, disability, veteran status, marital status, or any other unlawful basis.

Exceptions

Exceptions: (i) sole source procurements, (ii) emergency procurements, and (iii) at the discretion of the pension fund, retirement system, or board of investment, contracts that are nonrenewable and one year or less in duration, so long as the contract has a value of less than $20,000.