Chicago Transit Authority Employees Retirement Plan is searching for a real estate manager to run $45 million in an open-end core commingled fund, said an RFP on the $1.9 billion pension fund’s website.
The pension fund’s total real estate target allocation is 10%. As of Sept. 30, the pension fund’s actual allocation was 8.1%, split between 5.8% in open-end funds and 2.3% in closed-end funds, according to the pension fund’s most recent available quarterly investment report.
The RFP is available on the pension fund’s website. Proposals are due at 3 p.m. CDT on June 12. Timelines for finalist presentations and a final decision have yet to be determined.
Also, the CTA’s $726 million retiree health-care trust is searching for a real estate manager to run $45 million in an open-end core commingled fund. That RFP is also available on the website. Proposals are due at 3 p.m. CDT on June 12. Timelines for finalist presentations and a final decision have yet to be determined.
The retiree health-care trust is also searching for an emerging markets equity manager to run $22 million. That RFP is also available on the pension fund’s website. Proposals are due at 3 p.m. CDT on June 12. Timelines for finalist presentations and a final decision have yet to be determined.
As of Sept. 30, the retiree health-care trust did not have target allocations or any managers in either emerging markets equity or real estate, the most recent available quarterly investment report said. The investment policy posted on the trust’s website says the targets are 40% domestic fixed income, 37.5% domestic equity, 12.5% international equity and 10% stable value.
Investment consultant Marquette Associates is assisting with all of the searches.
John Kallianis, the pension fund’s executive director, did not respond to requests for further information by press time.
