Chicago Public School Teachers' Pension & Retirement Fund is searching for real estate and private equity managers to manage up to $150 million total, Angela Miller-May, chief investment officer of the $9.8 billion pension fund, said in an email.
The pension fund expects to commit up to $125 million to one or more non-core real estate managers. Only closed-end commingled funds, including funds of funds, will be considered, Ms. Miller-May wrote.
Additionally, the pension fund is looking to commit $20 million to $25 million to a private equity manager with a sector focus on buyouts, growth equity or special situations, and a geographical focus on Africa, according to Ms. Miller-May. Primary funds, funds of funds, co-investment funds and separate account strategies will all be considered. Secondary funds and venture capital funds will not be considered.
Both RFPs are available on the pension fund's website.
The private equity RFP is due by 4:30 p.m. CDT on Aug. 6, with finalist presentations on Sept. 20 and contract negotiations to be completed in December.
The real estate RFP is due by 4:30 p.m. CDT on Aug. 17, with finalist presentations on Oct. 18, and contract negotiations completed in January.