Chicago Public School Teachers' Pension & Retirement Fund issued an RFP for a manager to run up to $50 million in industrial-focused non-core real estate.
The $9.9 billion pension fund plans to hire one manager. It has a 9.5% allocation to real estate, excluding real estate investment trusts, and a 2.5% allocation to REITs.
The RFP is available on the pension fund's website. Proposals are due April 8; the board could make a decision May 15.
Townsend Group, the pension fund's real estate investment consultant, is assisting with the search.
Carmen Heredia-Lopez, the pension fund's chief investment officer, couldn't be reached for comment.
