Chicago Public School Teachers' Pension & Retirement Fund will soon search for an investment consultant.
The $11.2 billion pension fund will issue an RFP due to the state statutory requirement that the services must be put up for bid every five years, said Angela Miller-May, chief investment officer.
The pension fund's board approved the search at its Nov. 19 meeting, Ms. Miller-May said. Current consultant Callan is eligible to rebid.
Ms. Miller-May added that she is currently creating a draft of the RFP, so an issuance date has yet to be determined, but the board hopes ultimately to make a selection at its February or March meeting.
As of June 30, the pension fund's actual allocation was 29.3% domestic equities, 28.9% international equities, 24.4% fixed income, 8.7% real estate, 4.1% private equity, 2.8% cash and the rest in infrastructure.
The target allocation is 30.5% each domestic equities and international equities, 23% fixed income, 9% real estate, 5% private equity and 2% infrastructure.
The pension fund posts RFPs on its website.