Chicago Transit Authority Employees Retirement System hired Marco Consulting and Gray & Co. as investment consultants, replacing Wellesley Group.
Marco will review the $2 billion pension funds investment policy and asset allocation, said John Kallianis, executive director for the fund. The current asset allocation is: 68% domestic equities; 8% international equities; 4% real estate; 2% alternative investments; 17% domestic and international fixed income; and 1% cash.
Mr. Kallianis said Marco also will help trustees pare down the number of managers from 30 and do searches to replace managers, if necessary.
Gray will give quarterly and annual performance reports.