Chicago Laborers' Annuity & Benefit Fund issued an RFP for a passive manager to run global equity and fixed-income for the $1.2 billion pension fund.
The RFP, posted June 22, seeks one manager that can run both equity and fixed-income index strategies. The manager will not receive immediate funding but will be given assets at the pension fund's discretion in the future, according to the RFP.
The funding source was not listed.
The RFP is available on the pension fund's website. Proposals are due July 14; no selection date has been set.
Chicago Laborers had 21.5% of assets in global equity, 9.9% in global multisector fixed income and 5.2% in core fixed income, all as of March 31.
Marquette Associates, the pension fund's investment consultant, is assisting.
Michael Walsh, executive director and chief investment officer, could not be reached for further details.