Chicago Policemen's Annuity & Benefit Fund is searching for a passive money manager with a broad selection of index fund strategies.
The $2.7 billion pension fund issued an RFP for a passive manager for both current and future allocations, said Thomas A. Beyna, president of the board and chairman of the investment committee, in an email. Currently, Northern Trust Asset Management is the pension fund’s single passive manager, with a $415 million passive domestic large-cap core equity portfolio. Mr. Beyna said the firm is invited to participate in the RFP.
The RFP is available on NEPC's website. Proposals are due at 3 p.m. CDT on May 3. A timeline for a selection has yet to be determined.