Chicago Park Employees Annuity & Benefit Fund hired Principal Realty...

Chicago Park Employees Annuity & Benefit Fund hired Principal Realty Investors to manage $25 million in real estate equity, the final step in shifting the fund's asset allocation to include more alternatives, said Joseph Fratto, executive director. Trustees of the $590 million pension plan doubled the real estate allocation to 10% of plan assets this year and finished hiring managers for a new 5% allocation to private equity. The current asset allocation is 42.5% domestic equities, 35% domestic fixed income, 10% real estate, 7.5% international equities and 5% private equity.