Public Teachers Pension & Retirement Fund of Chicago allocated an additional $25 million to Brinson and $15 million to Mesirow to help boost the funds private equity allocation closer to its 2% target allocation. The current allocation is $14.5 million to Brinson and $25 million to Mesirow. Only a portion of the allocations has been invested so far by the private equity partnerships. Trustees of the $9.5 billion fund have not determined the funding source.
Separately, trustees intend to choose up to five finalists in the funds investment consultant search at an Aug. 5 meeting. Incumbent Mercer is one of 16 firms that responded to the RFP. Allegis, Boston Financial, Blackstone, Capital, J.P. Morgan, Olympus, RREEF, SSR and Walton Street Capital will be asked to meet with trustees at the Aug. 5 meeting to complete private real estate manager due diligence and review.