Chicago Public School Teachers’ Pension & Retirement Fund is seeking a portfolio manager-alternative investments.
Angela Miller-May, who held the position, was promoted in May to director of investments of the $10.2 billion pension fund.
The portfolio manager-alternative investments would oversee the pension fund’s investments in real estate — including real estate investment trusts — infrastructure and potentially other alternatives as the fund evolves.
The pension fund has a 17% target allocation to alternatives, made up of 7% real estate; 3% each infrastructure and private equity; and 2% each REITs diversifying assets or more liquid alternatives, Ms. Miller-May said.
Andrew Kelsen, also portfolio manager-alternative investments, primarily oversees private equity.
“With the growth of the portfolio and complexities of alternatives, there is a need for additional due diligence and monitoring” more so than public equities, Ms. Miller-May said, noting the pension fund has 25 real estate managers, including two in REITs, that manage more than 40 underlying funds, and 10 private equity managers, that manage more than 50 underlying funds.
The new portfolio manager would report to Ms. Miller-May.
The job posting is available on the pension fund’s website, and the application process will remain open until the position is filled.