Teachers' Retirement System of the State of Illinois - Private Equity Secondary Market Advisory Services RFP - 2026
IL-State-Teachers Retirement System of the State of IllinoisState · Springfield, IL- Due
- Oct 28, 2026
- 12 days left
- Posted
- Sep 30, 2026
- Primary contact
- Diana Ochoa
- (217) 814-2001 ext 0102
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THE 30-SECOND BRIEF
The Teachers' Retirement System of the State of Illinois (TRS) is seeking proposals from experienced and qualified firms for Private Equity Secondary Market Advisory Services. The selected advisor will provide secondary advisory services, manage the sale of LP interests in private equity assets, conduct secondary market valuation analyses, and assist with transaction structuring and negotiations. Proposers must have experience providing secondary advisory services to pension funds or institutional investors with at least $10 billion in assets, and must have executed over $5 billion in private equity secondary transactions within the last three years. Proposals are due by October 28, 2026, at 2:00 pm CST, with vendor questions due by October 13, 2026. Evaluation criteria include soundness of approach, understanding of services requested, firm qualifications, proposed deliverables, and fees.
Soundness of Approach & Quality of Proposed Services (25%), Understand of the Services Requested (25%), Firm Qualifications (25%), Proposed Deliverables (20%), Fees (5%)
SUMMARY
The Teachers' Retirement System of the State of Illinois (TRS) is seeking proposals from experienced and qualified firms for Private Equity Secondary Market Advisory Services.
The selected advisor will provide secondary advisory services, manage the sale of LP interests in private equity assets, conduct secondary market valuation analyses, and assist with transaction structuring and negotiations. Proposers must have experience providing secondary advisory services to pension funds or institutional investors with at least $10 billion in assets, and must have executed over $5 billion in private equity secondary transactions within the last three years. Proposals are due by October 28, 2026, at 2:00 pm CST, with vendor questions due by October 13, 2026. Evaluation criteria include soundness of approach, understanding of services requested, firm qualifications, proposed deliverables, and fees.
EVALUATION CRITERIA
REQUIRED ATTACHMENTS
4- Bid bond
- Statement of Minimum Qualifications
- References and Reference Authorizations
- Fee Proposal
- Submit to
- https://procurement.opengov.com/portal/trsil/projects/302316
- Scope location
- Springfield, IL
- Reported agency
- Teachers' Retirement System of the State of Illinois
Questions about this RFP
How do I respond to this RFP from IL-State-Teachers Retirement System of the State of Illinois?
Review the full solicitation document for submission requirements, evaluation criteria, and deadlines. The submission deadline is October 28, 2026. Be sure to include all required attachments as outlined in the solicitation. Submissions should be delivered to: https://procurement.opengov.com/portal/trsil/projects/302316. For questions, contact Diana Ochoa.
Can small businesses or minority-owned firms bid on this RFP?
Most government agencies, including IL-State-Teachers Retirement System of the State of Illinois in IL, encourage participation from small businesses, minority-owned, women-owned, and disadvantaged business enterprises (MBE/WBE/DBE). Check the full solicitation for any small business participation goals.
What happens after the RFP submission deadline?
After the deadline, the issuing agency reviews all submissions against the stated evaluation criteria. This typically includes a compliance check, technical evaluation, cost analysis, and may involve oral presentations with shortlisted vendors.
Can I ask questions about this solicitation before submitting?
Yes, most solicitations allow vendors to submit questions during a designated period. The primary contact is Diana Ochoa at (217) 814-2001 ext 0102. Questions and answers are typically shared with all prospective bidders.
Can I search RFPs like this in ChatGPT or Claude?
Yes. Civic IQ has an MCP server that connects ChatGPT, Claude and other AI assistants to live Civic IQ data: open RFPs, pre-RFP signals from public meetings, awarded contracts and agency decision-makers across 100,000+ US public agencies. Add https://beta.mcp.civiciq.com/mcp as a connector (in ChatGPT under Settings > Apps & Connectors, in Claude under Settings > Connectors) and sign in with a free Civic IQ account at civiciq.com/mcp.
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What are the evaluation criteria for this solicitation?
This solicitation includes specific evaluation criteria that will be used to score proposals. The criteria include: "Soundness of Approach & Quality of Proposed Services (25%), Understand of the Services Requested (25%), Firm Qualifications (25%), Proposed Deliverables (20%), Fees (5%)" Vendors should carefully align their proposals with each criterion to maximize their score.
Where can I find more RFPs from IL-State-Teachers Retirement System of the State of Illinois?
All active and historical solicitations from IL-State-Teachers Retirement System of the State of Illinois are tracked and searchable. As a state agency, IL-State-Teachers Retirement System of the State of Illinois regularly publishes solicitations. Visit the agency profile to see current open bids, past contracts, vendor relationships, and decision-maker contacts.
Is this solicitation still open for submissions?
Based on the posted deadline of October 28, 2026, this solicitation appears to still be accepting submissions. Deadlines may change through amendments or addenda, so always verify the current status directly with the issuing agency before preparing your response.
What documents are required to bid on this RFP?
Requirements vary by solicitation, but common documents include a technical proposal, cost/price proposal, proof of insurance, relevant certifications, past performance references, and any forms specified in the solicitation. This solicitation specifically requires the following attachments: Bid bond, Statement of Minimum Qualifications, References and Reference Authorizations, Fee Proposal. Review the full document from IL-State-Teachers Retirement System of the State of Illinois for the complete list.
What is the scope of this project?
This solicitation defines a specific project scope. The scope covers the following locations: Springfield, IL. Review the full solicitation for detailed scope requirements.