Chicago Municipal Employees Annuity & Benefit Fund is considering increasing its small-cap and international equity exposures by $100 million each, said Terry Stefanski, acting executive director. Becker, Burke Associates, the $5.6 billion funds consultant, is reviewing outside "top-quartile managers as well as existing managers. A decision is expected at the end of the summer when the asset allocation review is finished. If trustees decide to move forward, funding would likely come from a reallocation of assets or from investment income, he said. Currently, Ariel Capital manages $300 million in small-cap equity and Frank Russell manages $175 million in a commingled international equity fund.