Chicago Public School Teachers' Pension & Retirement Fund committed $40 million to Basis Investment Group Fund II, said Angela Miller-May, chief investment officer.
The $12.1 billion pension fund's board approved the commitment to the real estate debt fund managed by Basis Investment Group at its meeting Thursday, said Angela Miller-May, chief investment officer.
The pension fund's previous commitment to the minority- and women-owned firm was $30 million to Basis Investment Group Fund I in 2018.
As of Jan. 31, the pension fund's actual allocation to real estate was 8.1%.
Separately, the board placed active international equity managers Lazard Asset Management and Strategic Global Advisors on watch for performance reasons, Ms. Miller-May said. They manage $655 million and $79 million, respectively, for the pension fund.
Lazard spokeswoman Hillary Yaffe declined comment. Officials at Strategic Global Advisors could not be immediately reached for comment.
As of Jan. 31, the actual allocation to global equity was 31%.
Investment consultant Callan assisted with the commitment and watchlist decisions.