Chicago Public School Teachers’ Pension & Retirement Fund will search for an investment consultant in the first half of 2025.
The $13.1 billion pension fund will issue an RFP to comply with the Illinois Pension Code that requires services must be put up for bid when the current vendor’s five-year contract is up for expiration.
Current consultant Callan’s contract will expire June 30. According to a memo to the board of trustees from CIO Fernando Vinzons, the RFP would be issued in the first half of 2025, finalist presentations would take place in the third quarter, and a contract would be finalized in the fourth quarter.
The board approved issuing the RFP at its Feb. 4 meeting, Vinzons said. Callan will be eligible to rebid.
The pension fund typically posts RFPs on its website.
As of Sept. 30, the pension fund’s actual allocation was 32.8% domestic equities, 26.1% international equities, 17.7% fixed income, 9.5% real estate, 8.4% private equity, 3.3% cash and 2.2% 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.
