Institution: Laborers’ & Retirement Board Employees’ Annuity & Benefit Fund of Chicago
Headquarters: Chicago, United States
Allocation to alternatives: 13.50%
Laborers’ & Retirement Board Employees’ Annuity & Benefit Fund of Chicago (LABF) has issued an RFP for a private equity fund manager, according to a recent release on the pension’s website.
LABF’s prospective manager will be responsible for $15 million worth of pension private equity assets, and will retain full discretionary responsibility for the assets within a commingled fund structure.
The $1.15 billion US public pension has a 2.70 percent allocation to private markets which is split between private equity and private debt.
As illustrated below, LAB’s last five private equity commitments have been to funds with a variety of strategies: one commitment has been to a buyout fund, whereas mezzanine / debt and secondaries funds have received two commitments apiece.
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