Chicago Teachers Issues Emerging Fund Of Funds RFP

Jun 17 2010 | 11:15am ET

When it comes to searching for an emerging fund of hedge funds manager, the Chicago Public School Teachers’ Pension and Retirement Fund is getting very specific.

The firm has issued a request for proposals for a $25 million fund of funds mandate, hoping to add a roster of smaller hedge funds to its portfolio—it wants an emerging fund of hedge funds manager. It also wants that manager to manage less than $10 billion, and to be owned by a minority, woman or disabled person.

Managers who meet those standards have until June 25 to apply; the RFP is available on the $9 billion pension’s Web site.

The pension’s board, with the help of consultant Mercer, aims to choose a manager by Sept. 30.

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