Chicago’s PABF is moving from PE to PD

The pension fund looks to deal with under-funded issue through private debt.

Chicago Policemen’s Annuity & Benefits Fund said it is now replacing its private equity portfolio and shifting the focus to private debt investments.

The change of focus from private equity is because the fund is “severely underfunded”. The pension is looking for more cash flow to support the benefit payments from private debts.

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