Chicago Public School Teachers' Pension & Retirement Fund committed a total of $35 million to four minority- and/or women-owned private equity managers, CIO Angela Miller-May said in an email.
The $12.8 billion pension fund's board approved commitments at its June 17 meeting of $10 million each to Aldrich Capital Partners Fund II, a growth equity fund; Long Arc Capital Fund I, also a growth equity fund; Red Arts Capital Opportunity Fund I, a supply chain and infrastructure-focused private equity fund; and $5 million to H Ventures Fund II, a venture capital fund managed by H Venture Management.
The pension fund issued an RFP in January following the approval of its private equity pacing plan calling for a total of $125 million in total private equity commitments for 2021, a portion of which was approved to be allocated to emerging or minority-,women- or disabled person-owned managers.
As of April 30, the actual allocation to private equity was 5%.
Investment consultant Callan assisted.