Cook County Employees’ and Officers’ Annuity and Benefit Fund and Cook County Forest Preserve District Employees’ Annuity and Benefit Fund will search for an investment consultant sometime in 2025.
The Chicago-based pension funds’ board will issue an RFP due at the upcoming expiration of current consultant Callan’s contract during the year, said Stephen Wolff, director of investments, in recently obtained minutes for the Aug. 29 board meeting.
Wolff could not be immediately reached for further information whether Callan will be invited to rebid.
As of June 30, the employees’ and officers’ pension fund had $13.3 billion in assets and an actual allocation of 37.9% domestic equities, 21% international equities, 20.2% broad U.S. fixed income, 7.1% private real estate, 6.1% private equity, 4.4% hedge funds, 1% short-duration fixed income, 0.9% each cash equivalents and real estate investment trusts and the rest in infrastructure.
The pension fund’s target allocation is 32% domestic equities, 23.5% broad U.S. fixed income, 20% international equities, 8.2% private real estate, 5% private equity, 3% hedge funds, 2.5% short-duration fixed income, 2% each infrastructure and private credit, 1% cash equivalents and 0.8% REITs.
As of June 30, the forest preserve district employees’ pension fund had $201 million in assets and an actual allocation of 38.9% domestic equities, 26.7% international equities, 20.3% broad U.S. fixed income, 9.1% real estate, 2.7% hedge funds, 1.3% cash equivalents and 1% short-duration fixed income.
The pension fund’s target allocation is 32% domestic equities, 23.5% broad U.S. fixed income, 20% international equities, 10% real estate, 6% private equity, 3% hedge funds, 2.5% short-duration fixed income, 2% private credit and 1% cash equivalents.
