Chicago Laborers' Annuity & Benefit Fund is searching for up to two private credit managers to run a total of $20 million.
The $1.3 billion pension fund is seeking managers to run a "commingled fund for a private debt or direct lending portfolio mandate," according to an RFP posted on the pension fund's website.
As of March 31, the actual allocation to private markets was 3%; the target is 7%.
The RFP is posted on the pension fund's website. Proposals are due at 3 p.m. CDT on July 30. A timeline for a selection has yet to be determined.
Investment consultant Marquette Associates is assisting.
Tina Consola, executive director, could not be immediately reached to provide further information.