Searches and Hires

Chicago teachers fund slates $35 million for female- or minority-owned private equity firms

Chicago Public School Teachers' Pension & Retirement Fund committed $35 million total to three private equity firms that are female- or minority-owned, said Angela Miller-May, chief investment officer, in an email.

Minority-owned firms Astra Capital Management and Farol Asset Management were hired to manage $12.5 million each. Female-owned firm Turning Rock Partners was hired to manage $10 million.

RFPs for three private equity firms that are female- or minority-owned were issued in January as part of the pension fund's private equity pacing plan for 2018.

The $9.8 billion pension fund has a 5% private equity target.

Investment consultant Callan assisted with the search.