Chicago Laborers seeks PERE fund managers

The Illinois pension fund wants assistance with its investment needs.

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.

Platinum subscribers may click here for LABF’s full profile, including key contacts, allocation strategy and fund investments.