Institutional Investors

Chicago Police stakes out managers

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The $3 billion Chicago Policemen’s Annuity & Benefit Fund is on the lookout for emerging-manager hedge funds, although it has yet to be seen whether the city pension fund will act in the near future.

A search earlier this year that began as a global macro focus became a global asset allocation and global tactical asset allocation mandate. Ideally, the system would like to source opportunistic hedge fund strategies and seed emerging managers in the coming year, but there are many issues that need to be ironed out – such as the decision whether to allocate directly or