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 fund’s 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.
