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LABF approves $20m in commitments

The US public pension has backed two diversified, North America focused funds.

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Institution: Laborers’ & Retirement Board Employees’ Annuity & Benefit Fund of Chicago
Headquarters: Chicago, United States
AUM: $1.20 billion
Allocation to Alternatives: 13.37%
Bitesize: $5-10m

Laborers’ & Retirement Board Employees’ Annuity & Benefit Fund of Chicago has agreed to commit $20 million worth of private equity commitments, as confirmed during the institution’s March pension trustees meeting.

The pension fund has approved a $10 million commitment to Fairview Private Markets Fund V, managed by Fairview Capital Partners, and HarbourVest’s 2020 Global Fund.

The $1.20 billion public pension allocates 13.37 percent of its investment portfolio to alternative investments. As illustrated below, the pension has a strong appetite for North America-focused funds.

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