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Private Equity

Chicago Transit Authority plan narrows private equity search

Chicago Transit Authority Employees Retirement Plan will interview three open-end private equity managers — Partners Group, Central Park Group and PPC Enterprises — at its Nov. 30 investment subcommittee meeting.

It is anticipated that the investment subcommittee will recommend one of the three firms be hired at the Dec. 21 board meeting.

Some $70 million is expected to be committed to the selected private equity firm, Kweku Obed, managing partner at investment consultant Marquette Associates, told trustees at the pension fund's board meeting Tuesday.

Mr. Obed also indicated at the meeting that the pension fund is underweight its infrastructure target by about $29 million and should consider new or additional commitments to bring it closer to its target.

The $1.8 billion pension fund has a 10% private equity target and 5% infrastructure target, according to its website.