Updated with correction
Chicago Laborers' Annuity & Benefit Fund on Tuesday issued an RFP for a credit hedge fund-of-funds manager to run $10 million.
NEPC, the $1.2 billion pension fund's investment consultant, is assisting.
The funding source for the mandate was not provided in the RFP. Michael Walsh, the pension fund's executive director and chief investment officer, could not be reached for further details.
The search was authorized by the board Nov. 22, according to meeting minutes.
Chicago Laborers had 8.8% of assets in hedge funds of funds as of Sept. 30, based on information on the pension fund's website. EnTrustPermal, Lighthouse Capital Partners, Rock Creek Group, Riverview Alternative Investment Advisors, Pluscios Management and Stenham Asset Management Group are the managers, according to the fund's website.