Chicago Firemen's Annuity & Benefit Fund is searching for an open-end core real estate manager to run a $34 million portfolio.
The $850 million pension fund is seeking a commingled fund benchmarked to the NCREIF Open End Diversified Core Equity Index and the allocation is approximately 4% of the pension fund's total assets, an RFP posted on the pension fund's website shows.
The pension fund's real estate target is 4%, and the sole real estate manager listed on its website is Apollo Global Management. Whether Apollo's portfolio is up for bid could not be immediately determined.
Proposals are due at 3 p.m. CST on Feb. 1. A selection is expected sometime in March or April.
Investment consultant Callan is assisting.
Lorna Scott, chief investment officer, and Steve Swanson, executive director, could not be immediately reached to provide further information.
