Chicago Public School Teachers seeks core fixed-income manager

Chicago Public School Teachers' Pension & Retirement Fund is searching for passive domestic core fixed-income manager to run $400 million to $500 million, said Angela Miller-May, director of investments of the $9.8 billion pension fund, in an email.

The intended benchmark is the Bloomberg Barclays U.S. Aggregate Bond index.

The reason for the search and funding sources could not immediately be learned.

The RFP is available on the pension fund's website. Proposals are due by 4:30 p.m. CDT on July 28. Finalist presentations are tentatively scheduled for Oct. 19, with a hiring decision by Dec. 31.

Investment consultant Callan Associates is assisting.

The pension fund has a 9% target to passive core fixed income.