Chicago Laborers’ and Retirement Board Annuity and Benefit Fund (LABF) is soliciting proposals from qualified open-ended core real estate fund managers. The manager shall serve as a fiduciary to LABF and have independent discretionary authority with respect to the management of the portfolio and subject to the agreed-upon objectives and guidelines. The portfolio is expected to be measured against the NCREIF-ODCE Index. An electronic copy of the complete proposal must be submitted by 12:00 pm CDT on April 30.
The $1 billion US public pension has an 8 percent target allocation to real estate that currently stands at 5.25 percent.
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