Chicago Public School Teachers Pension & Retirement Fund may search for non-core real estate managers later this year, said Michael J. Nehf, executive director. Funding could come from the proceeds of the $86 million Times Square Charter real estate fund, which the $8.8 billion plan is closing. Also, plan officials will review $240 million in real estate investment trusts; depending on the results, those assets could also be used to fund new managers, Mr. Nehf said.
Trustees dont yet have a timetable for a decision on the real estate search. Mr. Nehf said there are no plans to increase the funds current 9.4% allocation to real estate.
Townsend Group is assisting in the review.