Institutional Investors

Global macro blooms in California and Chicago


The California State Teachers' Retirement System is seeking a consultant to help select, monitor and assess hedge fund managers for a global-macro strategy the fund will be hiring, while the Chicago Police Annuity and Benefit Fund is searching for its first direct hedge fund play in the space.

Chicago's global macro portfolio will total $150 million, while CalSTRS is expected to total $200 million, according to RFPs, which both closed at the end of April. In CalSTRS case this is a three-year pilot project into hedge funds and officials plan