The Board has a responsibility to Cook County Pension Fund (CCPF) participants and beneficiaries to make investments with the objective of obtaining superior total long-term rates of return while using acceptable levels of risk and reasonable control of costs through the use of a diversified investment portfolio.
The Board engages various Investment Managers to achieve these results and seeks to promote inclusivity through a competitive proposal and selection process. The Board will evaluate all qualified Investment Manager candidates with emphasis on: demonstrated professional performance; organizational depth; institutional investment management capability; soundness of the Investment Manager's investment philosophy and process; commitment to diversity in its hiring and business practices; and reasonableness of fee structure.
The availability of qualified minority and female owned business enterprises and businesses owned by a person with a disability is recognized by the Board. It is the policy of the Board to include qualified minority, female owned business enterprises and businesses owned by a person with a disability in the Fund's Investment Manager selection process and to objectively evaluate all qualified Investment Manager candidates regardless of race, gender or handicap.
Procurement Policy
The Fund’s Procurement Policy is intended to promote an open and competitive process established by the Board for selecting and appointing consultants and investment advisers to provide Investment Services.
This Policy is consistent with the Board’s long-standing commitment to transparency and making procurement decisions characterized by competitive selection, objective evaluation and proper documentation -- all in accordance with the Board’s overriding fiduciary obligations and considerations. Further, this Policy is intended to comply with applicable law, including the Illinois Pension Code. In the event of any conflict, the applicable law will control.
Current and Recent Searches
INVESTMENT CONSULTANT SEARCH
The County Employees’ and Officers’ and Forest Preserve District Employees’ Annuity & Benefit Fund of Cook County invited the submission of proposals from qualified investment consulting organizations to provide full investment consulting services. The RFP was available beginning June 11, 2015 and the submission deadline was 3:00 P.M. Central Time, July 17, 2015.
NON-CORE REAL ESTATE SEARCH
The County Employees’ and Officers’ Annuity and Benefit Fund of Cook County invited the submission of proposals from qualified investment advisers to provide non-core real estate services. The RFP was available beginning August 25, 2014 and the submission deadline was 3:00 P.M. (CDT), September 19, 2014.
SMALL CAP GROWTH DOMESTIC EQUITY SEARCH
The County Employees’ and Officers’ Annuity and Benefit Fund of Cook County invited the submission of proposals from qualified investment advisers to provide small cap growth domestic equity investment services. The RFP was available beginning July 31, 2013 and the submission deadline was 3:00 P.M. (CDT), August 21, 2013.
GLOBAL FIXED INCOME SEARCH
The County Employees’ and Officers’ Annuity and Benefit Fund of Cook County invited the submission of proposals from qualified investment advisers to provide global fixed income investment services. The RFP was available beginning July 8, 2013 and the submission deadline was 3:00 P.M. (CDT), July 22, 2013.
REAL ESTATE EMERGING MANAGER SEARCH
The County Employees’ and Officers’ Annuity and Benefit Fund of Cook County invited the submission of proposals from qualified investment advisers to provide real estate emerging manager investment services. The RFP was available beginning January 31, 2014 and the submission deadline was 3:00 P.M. (CDT), March 21, 2014.
INTERNATIONAL EQUITY EMERGING MANAGER SEARCH
The County Employees' and Officers' Annuity and Benefit Fund of Cook County invited the submission of proposals from qualified emerging investment managers to provide international equity investment services. The RFP was available beginning July 3, 2012 and the submission deadline was 3:00 P.M. (CST), August 1, 2012.
DISCLAIMER
For the purpose of any future search, the Fund is the only authorized source of proposal forms. Reproduction of these documents without the express permission of the Fund is prohibited. Proposal forms obtained from any other source may be an incomplete set of documents and may disqualify the Responder.
All proposals submitted will be evaluated by members of the Fund's Staff. The Fund reserves the right to reject any or all proposals submitted. The Fund reserves the right to request clarification of information submitted and to request additional information from one or more Responders. Proposals when received shall become the property of the Fund and shall not be returned to Responder. The Fund reserves the right to modify the scope of the engagement and/or terminate the proposed engagement entirely. In submitting a proposal, Responders recognize that the Fund is subject to the Illinois Freedom of Information Act and, as such, the proposals may be subject to public disclosure after selection. There is no expressed or implied obligation for the Fund to reimburse responding firms for any expenses incurred in preparing proposals in response to this request.
QUIET PERIOD POLICY
The following guidelines will be instituted during a search process for an Investment Manager or Investment Consultant:
a) A quiet period will commence upon action by the Investment Committee, Emerging Manager Investment Committee or the Board to authorize a search and end once a selection has been made by the Board and accepted by the particular candidate selected.
b) Initiation, continuation and conclusion of the quiet period shall be publicly communicated to prevent inadvertent violations.
c) All members of the Board and Investment Staff not directly involved in the search process, shall refrain from communicating with candidates regarding any product or service related to the search offered by the candidate throughout the quiet period and shall refrain from accepting meals, travel, hotel, or other value from the candidates.
d) Throughout the quiet period, if any Board member is contacted by a candidate, the Board member shall refer the candidate to Fund's Investment Consultant or Investment Staff directly involved in the search process.
e) All authority related to the search process shall be exercised solely by the relevant Investment Committee, Emerging Manager Investment Committee or Board as a whole, and not by individual Trustees.
f) All information related to the search process shall be communicated by the Fund's Investment Consultant or Investment Staff to the relevant Investment Committee, Emerging Manager Investment Committee or Board as a whole, and not to individual Board members.
g) The quiet period does not prevent Board approved due diligence, client conference attendance or communications with an existing service provider that happens to be a candidate in the ordinary course of service provided by such candidate; however, discussions related to the pending selection shall be avoided during those activities.
h) The provisions of this quiet period policy will apply to candidates throughout the quiet period and shall be communicated to candidates in conjunction with any RFP or RFI.
i) A candidate may be disqualified from a search process for a knowing violation of this quiet period policy.
Cook County Fund
Description: Non-Core Real Estate
RFP No: 14-0002
Response Deadline: 3:00 P.M. (CDT), September 19, 2014
Description: Real Estate Emerging Manager
RFP No: 14-0001
Response Deadline: 3:00 P.M. (CDT), March 21, 2014
Description: Small Cap Growth Domestic Equity
RFP No: 13-0002
Response Deadline: 3:00 P.M. (CST), August 21, 2013
Description: Global Fixed Income
RFP No: 13-0001
Response Deadline: 3:00 P.M. (CST), July 22, 2013
Description: International Equity - Emerging Manager
RFP No: 12-0004
Response Deadline: 3:00 P.M. (CST), August 1, 2012
Description: Active Emerging Markets Equity
RFP No: 12-0003
Response Deadline: 3:00 P.M. (CST), August 1, 2012
Description: Private Equity Manager-of-Managers
RFP No: 12-0002
Response Deadline: 3:00 P.M. (CST), June 19, 2012
Description: Value Added Real Estate Closed End Fund
RFP No: 12-0001
Response Deadline: 3:00 P.M. (CST), April 23, 2012
Description: Hedge Fund-of-Funds
RFP No: 11-0003
Response Deadline: 12:00 Noon (CST), September 30, 2011
Description: Core Plus Fixed Income
RFP No: 11-0002
Response Deadline: 12:00 Noon (CST), September 2, 2011
Description: Core Real Estate Open End Fund
RFP No: 11-0001
Response Deadline: 12:00 Noon (CST), August 1, 2011
Forest Preserve District Fund
Description: Hedge Fund-of-Funds
RFP No: 11-0003
Response Deadline: 12:00 Noon (CST), September 30, 2011
Description: Core Real Estate Open End Fund
RFP No: 11-0001
Response Deadline: 12:00 Noon (CST), August 1, 2011
Recent Awards
Mandate: General Investment Consultant