Searches and Hires

Chicago teachers plan commits $40 million, gives RhumbLine $283 million more

Chicago Public School Teachers' Pension & Retirement Fund allocated $323 million total to three managers, said Angela Miller-May, chief investment officer, in an email.

At the board meeting Thursday, the pension fund board committed $25 million to an EQT private equity fund and $15 million to a New MainStream Capital private equity fund.

The board also allocated an additional $283 million to passive large-cap growth equity manager RhumbLine Advisers. Funding will come from Holland Capital Management, which is closing.

As of March 31, the $9.8 billion pension fund had $1.5 billion invested in the RhumbLine strategy.

Also, Ms. Miller-May, previously director of investments, was promoted to CIO at the board meeting. The CIO role is an expansion of the director of investments role, Ms. Miller-May wrote. The former CIO, Carmen Heredia-Lopez, departed in 2015. The director of investments role will not be filled.