Chicago Public School Teachers' Pension and Retirement Fund selected Garcia Hamilton & Associates, Longfellow Investment Management and Pugh Capital Management as finalists in a search for an emerging manager to run $25 million to $50 million in domestic core fixed income.
The board plans to consider hiring one of the managers at its meeting Thursday, according to the agenda of the $9 billion fund and confirmed by Kevin Huber, executive director.
The fund conducted the search as part of an effort to raise to 15% from 5% the allocation to emerging managers of its $2 billion in fixed income.
Funding for the new manager could come from an index fund, depending on asset allocation at the time of transition.
Mercer assisted in the search.