Chicago Metropolitan Water Reclamation District Retirement Fund is looking to commit a total of between $39 million and $65 million to private credit funds.
The $1.3 billion pension fund issued an RFP because it is considering adding more diversification to its overall investment portfolio, said Brian A. Gillespie, investment officer, in an email.
The pension fund does not currently have a target allocation to private credit, but is considering allocating between 3% and 5% to the asset class, Mr. Gillespie said. If the board decides to select managers, funding would likely come from reductions in equities and fixed income, he added.
The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CST on Feb. 24. If selections are made, they will likely be made one to three months later, Mr. Gillespie said.
Investment consultant Marquette Associates is assisting.