Chicago Transit searches for core real estate managers

The Retirement Plan for Chicago Transit Authority Employees is searching for a real estate manager, according to an RFP posted on the pension fund’s website May 13.

The retirement plan is looking to make a $45 million commitment to an open-end core commingled fund. The $1.9 billion pension fund has an 8.1 percent allocation to real estate, short of its 10 percent target allocation to the asset class.

The CTA’s $726 million retiree healthcare trust is also searching for an open-end core commingled real estate fund manager to handle a $75 million mandate. The RFP is also available on the pension fund’s website.

The due date for proposals for both management positions is June 12.