INVESTING/PORTFOLIO STRATEGIES

Chicago Laborers axes credit hedge fund-of-funds search, postpones another

Chicago Laborers’ Annuity & Benefit Fund canceled an RFP issued Jan. 10 for a credit hedge fund-of-funds manager to run $10 million, according to a notice on the $1.3 billion pension fund’s website.

Also, evaluations of proposals in a search for an absolute-return fixed-income manager to run $35 million to $45 million have been postponed, according to the website. The deadline for proposals in that search, which was issued in October, had been Nov. 2.

No reason was given on the website for the cancellation and postponement. Michael Walsh, the pension fund’s executive director and chief investment officer, could not be reached for comment or further details.