Chicago Policemen's Annuity & Benefit Fund named four finalists in its search for an investment consultant, said Aoifinn Devitt, chief investment officer of the $2.4 billion pension fund, in an e-mail.
Wilshire Associates, Marquette Associates, Pension Consulting Alliance and incumbent NEPC will be invited to make finalist presentations at the June 20 investment committee meeting, with a hiring decision anticipated in the fourth quarter.
An investment consultant RFP was issued last year because of NEPC's looming contract expiration.
Along with the four consultants, three direct lending managers — Crescent Capital Group, Maranon Capital and Monroe Capital — will be invited to make presentations at the next investment committee meeting.
Alcentra Group was hired in March to manage a $20 million private debt allocation and the pension fund is now considering a second, complementary allocation, the size of which has not been determined.
A search for direct lending managers was launched last year.
Separately, the pension fund will redeem up to $100 million of its $197 million investment with global tactical asset allocation manager Grantham, Mayo, Van Otterloo. Redeemed funds will go toward funding benefit payments and other investments.
The partial redemption is not related to performance, Ms. Devitt wrote.