Chicago Police To Seek Global Macro Manager

Mar 8 2010 | 4:05am ET

The Windy City’s finest are going global. The Chicago Policemen’s Annuity & Benefit Fund plans to allocate about $150 million to a global macro hedge fund manager.

The $3 billion pension will issue a request for proposals next month. In the interim, it and consultant Ennis Knupp will determine whether to select a single-manager fund or a fund of hedge funds, Pensions & Investments reports.

The Chicago pension plans to allocate 5% of its assets to the global macro mandate. It will be funded by a reduction in the plan’s domestic equity portfolio.

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