Chicago Municipal Employees' Annuity and Benefit Fund is looking to commit a total of up to $60 million to private equity funds, said Stephen Wolff, investment officer, in an email.
The $3.8 billion pension fund has issued a request for proposals from private equity managers that offer small and middle-market buyout funds, growth equity funds, secondary private equity funds and co-investment funds, Mr. Wolff said. The pension fund will consider both primary funds and funds of funds, he added.
Mr. Wolff said the pension fund has issued the RFP in order to come closer to its long-term private equity target of 4%. As of May 31, the actual allocation was 1.7%.
The RFP is available on the pension fund's website. Proposals are due at 5 p.m. CDT on July 28. A timeline for selections has yet to be determined.
Investment consultant Marquette Associates is assisting.