Chicago Public School Teachers' Pension & Retirement Fund will conduct two searches for private equity managers and one search for an infrastructure manager in 2020.
The $10.7 billion pension fund's board on Thursday approved committing a total of $75 million to private equity managers and a total of $40 million to infrastructure managers in 2020, said Angela Miller-May, chief investment officer.
The approval of the private equity pacing plan includes one RFP to be issued by the end of January for an emerging or minority-, women- or disabled person-owned private equity manager to which the pension fund will commit $30 million and one RFP for a special situations/deep value manager to which the pension fund will commit $20 million.
The pacing plan also includes a $25 million follow-on commitment to an existing private equity manager.
The infrastructure pacing plan will include one RFP for a broad infrastructure portfolio and a follow-on commitment with an existing manager. The individual amounts have yet to be determined.
The dates when the latter two RFPs will be issued have yet to be determined, but they will take place before year-end, Ms. Miller-May said.
Investment consultant Callan assists with searches. The pension fund posts RFPs on its website.
As of June 30, the actual allocations to private equity and infrastructure were 3.5% and 2%, respectively; their respective targets are 5% and 2%.
