Chicago Municipal Employees' Annuity & Benefit Fund is searching for one or more international fixed-income managers to run a total of $250 million, confirmed Michael Walsh, chief investment officer.
It is a new allocation for the $5.1 billion pension fund and will likely be funded from reductions in domestic core fixed income, according to Mr. Walsh. At this time, he does not know whether there would be any terminations.
The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CST on Feb. 7. Finalist presentations are scheduled for March 13, with a decision expected shortly thereafter.
Investment consultant Marquette Associates is assisting.