Chicago Municipal Employees Annuity & Benefit Fund will invest $70 million with three core real estate managers. The $5.8 billion plan is allocating $40 million to J.P. Morgan Fleming and $15 million each to American Realty Advisors and the AFL-CIO Building Investment Trust, said Terry Stefansky, executive director. Funding will come from cash. The move is the result of an asset allocation study completed last year.
Becker Burke assisted.