Chicago Municipal Employees' Annuity & Benefit Fund is searching for an investment consultant.
The $3.2 billion pension fund issued an RFP because the contract of current consultant Marquette Associates will expire April 30, said Stephen Wolff, investment officer, in an email.
The firm is invited to rebid, Mr. Wolff said.
As of Dec. 31, the pension fund's actual allocation was 24.8% domestic equities, 24% fixed income, 19.7% international equities, 11.5% hedge funds, 10.1% real estate, 3.9% cash and short-term investments, 3.3% infrastructure, 2.3% private equity and 0.4% private debt.
The target allocation is 26% domestic equities, 22% each fixed income and international equities, 10% hedge funds, 9% real estate, 4% each private debt and private equity, and 3% infrastructure.
The RFP is available on the pension fund's website. Proposals are due at 4 p.m. CST on Feb. 24. Finalist interviews are scheduled for March, with a selection date still to be determined.