Searches and Hires

Chicago Teachers earmarks $40 million for 4 minority managers; puts 2 strategies on watch

Chicago Public School Teachers' Pension & Retirement Fund committed $40 million to four private equity funds managed by businesses owned by minorities, women or the disabled, said Angela Miller-May, chief investment officer of the $10.8 billion pension fund, in an email.

At its Thursday meeting, the board committed $10 million apiece to AUA Private Equity Fund II, managed by AUA Private Equity Partners; Estancia Capital Partners II, managed by Estancia Capital Management; P4G Capital Partners I, managed by P4G Capital Management; and PiPV Capital I, managed by PiPV Capital.

These commitments were the result of an RFP seeking MWDBE private equity managers that was issued in December.

The board also placed two strategies on watch: a $110 million international small-cap strategy managed by William Blair & Co., for performance concerns, and a $45 million domestic core fixed-income strategy run by Taplin, Canida & Habacht, for personnel changes.