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Sign in Sign up for a FREE subscriptionChicago Laborers’ seeks noncore real estate manager
The $1.4 billion Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago has launched a search for a value-added/opportunistic real estate manager for a $10 million mandate.
The pension fund’s current managers are ASB Real Estate Investments, Capri Capital Partners, John Buck Co. and Mesirow Financial, according to the LABF website. Investment consultant NEPC is assisting with the search.
The RFI is available on NEPC’s website. Proposals are due March 29. The pension fund expects to notify finalists by April 2016.
The pension fund has a 6 percent target allocation to real estate; its actual allocation is 3.5 percent.
