Chicago Municipal Employees' Annuity & Benefit Fund is searching for a manager of emerging managers to run a portfolio of about $150 million, said Steve Yoon, investment analyst, in an email.
The $4.2 billion pension fund's board at its meeting Thursday approved issuing an RFP because the current manager, FIS Group, has been on watch for performance for about a year, Mr. Yoon said.
He said the RFP will be posted on the pension fund's website by the end of the day Friday. Proposals will be due June 25; a timeline for a decision has yet to be determined.
Officials at FIS Group could not be immediately reached to provide comment.