Chicago Public School Teachers’ Pension & Retirement Fund plans to issue an RFP for a general investment consultant and a real estate consultant, said Angela Miller-May, director of investments of the $10.2 billion pension fund.
Consulting firms may submit proposals for either or both consultant roles.
Callan Associates is the fund’s incumbent general consultant and Townsend Group, the incumbent real estate consultant. The pension fund plans to undertake the search because state statute requires rebidding for services every five years and their contracts expire early next year, Ms. Miller-May said. Both Callan and Townsend may rebid.
“We want to be proactive and have time to do a good search,” Mr. Miller-May said.
The general consultant duties include private equity consulting, and the real estate consultant work includes other real assets, such as infrastructure, Ms. Miller-May said.
The pension fund expects to issue the RFP by mid-August and could make a decision in late fall, Ms. Miller-May said.
The RFP will be posted on the pension fund’s website.