Chicago Park Employees' Annuity & Benefit Fund is searching for a cash overlay program manager to oversee up to $18 million.
The $350 million pension fund is seeking a firm to "directly manage assets for the fund for a cash overlay investment management program" with a notional exposure of between 1% and 5% of assets, according to an RFP posted on the pension fund's website.
The RFP does not disclose whether the pension fund currently has a cash overlay manager and whether the firm is eligible to rebid.
The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CDT on Sept. 3. A timeline for a selection was not provided.
Investment consultant Marquette Associates is assisting.
Steve Swanson, executive director, could not be immediately reached for further information.