Institutional Investors

Chicago Police search ends in long-only


A search by the $3 billion Chicago Policemen’s Annuity & Benefit Fund – that began as a global macro focus and was terminated earlier this year – has now become a global asset allocation and global tactical asset allocation (GAA/GTAA) search that has now been finalised.

The Chicago Police pension fund received more than 40 responses to its global macro request for proposal issued earlier last year. The mandate originally was slated to total 5% of assets or $150 million. The board terminated the search for a global macro manager in late April as a search for GTAA