Chicago Policemen’s Annuity and Benefit Fund seeks investment consultant

The Policemen's Annuity and Benefit Fund (PABF) of Chicago has issued an RFP seeking investment consultant services for up to five years. The $2.9 billion pension fund has a 7 percent target allocation to real estate.

The investment consultant acts as a fiduciary and adviser to the board, and is responsible for providing the fund with ongoing performance evaluation and due diligence of all investment managers. The consultant also develops and implements the fund’s asset allocation policies and provide education to the board and staff.

NEPC, the pension fund's current consultant, has been invited to rebid.

The board said it will actively consider candidates that are minority-owned businesses, women-owned businesses and businesses owned by a person with a disability that meet the required capabilities for this RFP. Responses are due on March 10.

To view the complete RFP, click