Chicago Public School Teachers' Pension & Retirement Fund issued a combined RFP in a search for a general investment consultant, real estate consultant and private equity consultant.
Firms may submit proposals for any one or more of the consulting services, Angela Miller-May, director of investments of the $10.4 billion pension fund, said in an e-mail.
“It is possible that CTPF could hire up to three consultants, or two or just one depending on the proposals and the quality of proposals,” Ms. Miller-May said.
Callan Associates is the pension fund's incumbent general consultant and private equity consultant, while Townsend Group is the incumbent real estate consultant, whose work includes other real assets, such as infrastructure, Ms. Miller-May said. Both firms may rebid for any of the consulting services.
“CTPF is conducting the search not only due to the expiration of Callan and Townsend's contracts but also in order to remain in compliance with Illinois Pensions Code,” which requires bids every 5 years, Ms. Miller-May said.
The RFP is available at the CTPF's website. Proposals are due Sept. 25. The board could make a decision Nov. 19.
Separately, the pension fund named Macquarie, Oaktree Capital Management and Brookfield Asset Management as finalists in a search to manage a $50 million commitment in infrastructure.
“Investment staff's recommendation is that CTPF hire one manager, given the $50 million allocation,” Ms. Miller-May said. “However, it is dependent on the presentations that the infrastructure managers provide” at the board meeting Thursday, when the board could make a decision.
The pension fund issued an RFP for the infrastructure commitment earlier this year.
