Chicago teachers plan puts $25 million with Pantheon for private equity

Chicago Public School Teachers' Pension & Retirement Fund hired PantheonVentures to manage $25 million in a private equity separate account, said Angela Miller-May, director of investments of the $9.8 billion pension fund, in an email.

"Pantheon will have discretion over the separate account and will target a diversified 'best ideas' portfolio with exposure to Europe, Asia and (the) rest of the world," Ms. Miller-May wrote.

An RFP was not issued in light of the pension fund's commitments to other similar Pantheon funds. The pension fund previously committed $132 million total to six other Pantheon funds.

Separately, the pension fund removed Morgan Stanley (MS) Investment Management, Channing Capital Management and Taplin, Canida & Habacht from its watchlist.

All three managers were previously put on watch for performance concerns on international equity, domestic all-cap equity and core fixed-income strategies, respectively. Morgan Stanley was also put on watch for brokerage reasons and Taplin, Canida & Habacht for organizational changes.

Ms. Miller-May wrote that all three strategies are showing improved performance. Morgan Stanley also is meeting the pension fund's brokerage goals, and Taplin, Canida & Habacht has resolved its organizational changes.

The pension fund has approximately $555 million, $141 million and $122 million invested with Morgan Stanley, Channing and Taplin, Canida & Habacht strategies, respectively.