Chicago Municipal Employees' Annuity & Benefit Fund is searching for its first infrastructure manager to run an $80 million open-end fund, said Steve Yoon, investment manager.
The $4.3 billion pension fund issued an RFP for more diversification and more yield, Mr. Yoon said. Funding will likely come from two core fixed-income managers, neither of which would be terminated. As of June 30, LM Capital Group and UBS Asset Management ran $264 million and $68 million, respectively, in active domestic core fixed income.
The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CDT on Sept. 28. A timeline for a decision has yet to be determined.
Investment consultant Marquette Associates is assisting.