Chicago Teachers fund adds to real estate

Public School Teachers' Pension & Retirement Fund of Chicago hired Fremont Realty Capital to manage a $30 million real estate portfolio for the $10.3 billion fund, said Kevin Huber, CFO. Officials also committed an additional $20 million to the PRISA II real estate fund, raising its total commitment to $45 million. Funding for both will come from reducing the portfolios of its existing managers; specific firms have not been chosen and none will be terminated. Townsend, the fund's real estate consultant, assisted.