Chicago teachers’ plan eyes infrastructure search, commits $250 million to 3 managers

Chicago Public School Teachers' Pension & Retirement Fund plans on issuing an RFP by June 30 for an infrastructure manager to run $50 million, said Angela Miller-May, chief investment officer, in an email.

The search is part of the $10.9 billion pension fund's pacing plan to allocate $100 million to infrastructure over the next five years that was approved at the Feb. 15 board meeting. The $100 million is needed to maintain the pension fund's 2% target to infrastructure, Ms. Miller-May wrote.

The RFP is expected to be available on the pension fund's website.

Also, the pension fund hired Adams Street Partners to manage $200 million total in a separate account that includes midmarket to large-market buyout funds.

The pension fund will distribute the $200 million to Adams Street over four years in $50 million increments.

The pension fund has previously committed $303 million to Adams Street fund of funds and co-investment vehicles since 1996.

The pension fund has a 5% private equity target.