Chicago Policemen's Annuity & Benefit Fund is searching for an opportunistic real estate manager to run $10 million for the $3 billion fund.
The allocation is small “because of the liquidity constraints due to our funding ratio,” said Sam Kunz, chief investment officer, in an e-mail. He said the source of the funding has not been determined.
The RFP is available on the pension fund's website.
Responses to the RFP are due Feb. 29. Trustees of the pension fund will receive a search update at an April 24 investment committee meeting, and finalists will be presented at the committee's May 24 meeting, Mr. Kunz wrote.