LABF Chicago seeks PE fund manager

LABF Chicago is on the lookout for an external fund manager to oversee $15m in private equity assets.

Institution: Laborers’ & Retirement Board Employees’ Annuity & Benefit Fund of Chicago
Headquarters: Chicago, United States
AUM: $1.15bn
Allocation to alternatives: 13.50%
Bitesize: $10-50m

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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