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The plan rehired two of its managers and terminated one as it wrapped up its search process at today’s meeting.
Trust’s board is scheduled to rehire PFM Asset Management as its investment advisor at a meeting this week.
The new hire joins the firm from Sixth Street.
The pension fund approved an RFP for a single infrastructure platform to handle a mandate target between $250 million and $450 million last week.
The retirement system added a non-core real estate commitment last quarter following a search report from its consultant.
The retirement fund is considering a real estate strategy that targets affordable housing as well as neighborhood and community retail/mixed use within the city of Chicago.
He departed last week after 15 years with the firm and his responsibilities have been redistributed to colleagues.
The retirement system terminated its active domestic large-cap growth equity manager last month due to underperformance.
The four new partners bring the investment consulting firm’s shareholder base to 27 individuals.
The fund close represents Heitman’s “largest closed-end fundraise to date.”