Chicago Teachers' Commits $30M to Alts; Targeting $140M to Private Markets in 2024/25

The Chicago Teachers’ Pension Fund (CTPF) has approved $30 million in alternative investments in addition to setting target allocations for private markets for the 2024/2025 fiscal year. 

$20 million was allocated to Mesirow Co-Investment Fund IX, a private equity co-investment fund. 

A $10 million allocation was made to JLC Infrastructure Fund II, a real assets fund with an infrastructure-focused strategy. CTPF has previously invested in JLC Infrastructure funds.

Also approved at the June 20 board meeting was the Real Estate Commitment Pacing Plan for fiscal year 2024/25. The plan includes the commitment of $60 million to non-core real estate and a $50 million commitment to core real estate. 

Additionally, the motion to enter the redemption queue for UBS Trumbull Property Fund was approved. The goal is to maintain a certain level of assets in the UBS loyalty fee program and submit partial redemption.

Lastly, the CTPF approved the 2024/25 Real Assets Commitment Pacing Plan, including a $30 million commitment. The plan will focus on re-ups with existing managers as well as seeking new. 

As of April 30, 2024, the Pension Fund was valued at $12.1 million, allocating 8.9% to private equity, 2.3% to infrastructure, and 10.2% to real estate.

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