Financial Services and Products Sought from Illinois Firms
The Office of the Illinois Treasurer has made it a priority to strengthen policies and operations to create more opportunities for businesses headquartered in Illinois. Illinois is home to a deep bench of talented and capable firms offering high-quality financial services. These include brokerage firms, securities dealers, asset managers, banks, investment consultants, and other financial service providers. The Illinois Treasurer seeks a broad range of financial services and products from Illinois firms, including the following:
Broker-Dealer Services
- Treasuries
- Supranationals
- Agencies
- Commercial paper
- Foreign bonds
- Municipal securities
- Corporate bonds
- Repurchase agreements
Investment Management Services
- Fixed income
- Cash and cash equivalents
- Public equities
- Real estate
- Private equity
- Venture capital
- Securities lending
Banking Services
- Custody and safekeeping
- Depository services
- ACH transactions
- Lockbox services
- Cash and check processing
- Credit and debit card processing
Other Investment Services
- Investment consulting
- Linked and time deposits
- Bond arbitrage
- Third-party research
Procurement Opportunities
For non-investment-related opportunities, including RFPs, RFIs, invitations to bid, and other related areas, please visit our Procurement Opportunities page.
Contact the Treasurer’s Investment Team
Illinois-based firms are encouraged to download and submit this Capabilities Questionnaire, which provides the Illinois Treasurer with a resource to proactively identify business opportunities with Illinois-based firms. For other questions on business opportunities, Illinois-based firms can contact Investments@illinoistreasurer.gov.
Policies
- RFP Process – All RFPs now award points to Illinois-based applicants in the scoring process.
- Preference for Illinois-Based Investment Firms – Policies and procedures establish uniform operating processes across investment divisions to allow for preference to qualified Illinois-based firms.
- Illinois Growth and Innovation Fund – Launched the Illinois Growth and Innovation Fund, a $1.5 billion evergreen impact investment fund that invests in ways that attract, assist, and retain quality tech-enabled businesses in Illinois.
- Investing in Illinois Communities through Municipal Bonds – The Illinois Treasurer seeks to purchase high-rated bonds issued by Illinois municipalities, thereby providing communities with the funds they need to grow while generating additional yield for the State.
- Investing in Illinois Businesses through Corporate Securities – The Illinois Treasurer actively purchases various securities issued by Illinois-based companies, including, but not limited to, corporate bonds, commercial paper, and repurchase agreements. This enables the State to invest in businesses with operations in Illinois while earning a high-yielding return.
- Illinois Business Liaison – Staff is specifically deployed to assist Illinois firms in doing business with the Illinois Treasurer. Contact Investments@illinoistreasurer.gov.
Results
- Illinois-Based Asset Managers – Increased from $406 million in January 2015 to $2.0 billion as of June 2023. Track these results on The Vault.
- Illinois-Based Broker/Dealers – Illinois-based firms brokered $89 billion on behalf of the Illinois Treasurer in FY 2023. Track these results on The Vault.
- Illinois Growth and Innovation Fund – The Illinois Growth and Innovation Fund (ILGIF) invests in ways that attract, assist, and retain quality tech-enabled businesses in Illinois. ILGIF aims to invest $1.5 billion on a recurring basis, creating an estimated 60,000 jobs per investment cycle. The investment is expected to attract more than $2 billion in additional private-sector money. Since its inception, ILGIF has already supported over 5,000 jobs, generated over $25.4 billion of invested capital in Illinois companies, and contributed to $38.2 billion in GAAP revenue. Learn more at www.ILGIF.com.
- Purchased approximately $208 million in municipal bonds from Illinois communities (as of June 2023)