Chicago Public School Teachers' Pension & Retirement Fund's board on Thursday approved new private equity and real estate commitments totaling $70 million to emerging or minority-, women- or disabled person-owned private equity managers.
In real estate, the $9.7 billion pension fund's board approved a commitment of $30 million to Longpoint Realty Fund II, a real estate fund managed by Longpoint Realty Partners, said Angela Miller-May, chief investment officer, in an email.
As of March 31, the actual allocation to real estate was 9.5%.
The pension fund's board also approved commitments of $10 million each to growth equity fund Graham Allen Partners I; MB Global Fund II, a special situations fund managed by MB Global Partners; Sidereal Capital Partners I, a growth equity fund managed by Sidereal Capital Group; and middle-market buyout fund WM Partners II, Ms. Miller-May said.
The pension fund had issued an RFP in January for MWDBE private equity managers.
As of March 31, the actual allocation to private equity was 4.6%.
Investment consultant Callan assisted.