Searches and Hires

Chicago laborers fund looking for real estate, hedged credit managers

Chicago Laborers' Annuity & Benefit Fund is searching for open-end core real estate and hedged credit managers, said two RFPs posted on the pension fund's website.

The $1.2 billion pension fund issued the RFPs on March 30 for managers to run open-end core real estate funds and hedged credit funds. The RFPs did not specify how many managers the pension fund intends to hire.

As of Sept. 30, 2017, the actual allocations to hedge funds and real estate were 6.8% and 5.3% respectively. Each asset class has an 8% target allocation.

Both RFPs are available on LABF's website. The hedged credit fund and open-end core real estate fund proposals are both due at noon CDT on April 30. Finalist interviews will take place in June or July, with a timeline for decisions yet to be determined.

Investment consultant Marquette Associates is assisting with both searches.

Michael Walsh, executive director and chief investment officer, could not be immediately reached to provide further information.