Chicago Public School Teachers’ Pension & Retirement Fund hired Loop Capital Management to run between $250 million and $300 million in an active domestic core fixed income portfolio.
The $12.5 billion pension fund’s board approved the hiring at its Aug. 15 meeting, said Fernando Vinzons, chief investment officer.
The pension fund issued an RFP in April after increasing its target allocation to fixed income to 26.5% from 23% in October 2023 and deciding to change the entire fixed-income portfolio to actively managed strategies, according to a presentation included with the Aug. 15 meeting materials.
Other finalists were the AFL-CIO Housing Investment Trust, Longfellow Investment Management and Merganser Capital Management.
Funding will come from rebalancing.
As of March 31, the actual allocation to fixed income was 17.7%.
Investment consultant Callan assisted.
