The $3 billion Chicago Policemen’s Annuity and Benefit Fund is searching for private equity managers and private debt managers.
The fund is seeking one or two private equity managers to run $20 million to $40 million in growth equity, special situations and co-investment fund strategies. The same number of firms are sought to manage $10 million to $20 million in private debt, niche lending and opportunistic credit, confirmed Thomas A. Beyna, board president and chairman of the investment committee, in an email.
Responses for both searches are due by 4 p.m. CDT July 30, according to separate RFPs posted on the fund's website.
Mr. Beyna said manager presentations and selection for both searches are tentatively scheduled for the fund’s Oct. 25 investment committee meeting and possibly also for its Nov. 22 meeting.
As of March 31, the most recent date available, the fund’s actual allocation to private equity was 1.3%, compared to a 7% target.
As of the same date, the allocation of the fund’s private debt portfolio was 2.3% vs. a target of 4%.
NEPC is conducting the searches for the policemen’s fund.