Searches and Hires

Chicago Municipal Employees looking for investment consultant

Chicago Municipal Employees' Annuity & Benefit Fund is searching for an investment consultant, said Steve Yoon, investment analyst, in an email.

The $4.3 billion pension fund issued an RFP because of a city statute that requires the services be put up for bid at least once every five years. Current consultant Marquette Associates is invited to rebid.

The pension fund's target allocation is 27% fixed income, 26% domestic equities, 22% international equities, 10% each hedge funds and real estate, and 5% private equity.

As of Sept. 30, the actual allocation was 25.5% domestic equities, 23.5% fixed income, 20.9% international equities, 11.6% hedge funds, 9.7% real estate, 5% private equity and 3.8% cash.

The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CST on Feb. 16. A timeline for a decision has yet to be determined.