Chicago Park Employees' Annuity & Benefit Fund is searching for a minority-owned or women-owned money manager or asset manager owned by a person with a disability to run about $23 million in a core investment-grade fixed-income portfolio.
The $335 million pension fund is seeking such managers as a result of the state of Illinois' policy to encourage increasing pension funds' racial, ethnic and gender diversity, according to an RFP posted on the pension fund's website.
The RFP does not disclose the funding source for the new portfolio. As of Dec. 31, the pension fund's actual allocation to core fixed income was 9%; the target is 7%.
The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CDT on June 15. A timeline for a selection was not provided.
Investment consultant Meketa Investment Group is assisting.
Steve Swanson, executive director, could not be immediately reached for further information.