Chicago Public School Teachers' Pension & Retirement Fund is searching for at least one investment consultant, said Angela Miller-May, chief investment officer.
The $11.2 billion pension fund issued an RFP due to the state statutory requirement that the services must be put up for bid every five years. Current consultant Callan is eligible to rebid, Ms. Miller-May said.
The pension fund may consider separate consultants for general, private equity and/or real estate consultant depending on what the industry has to offer, Ms. Miller-May said.
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 RFP is available on the pension fund's website. Proposals are due at 5 p.m. CST on Feb. 19. Finalist presentations are scheduled for April 15 with a selection shortly thereafter.
