FUNDRAISING NEWS | September 03, 2024
According to materials from the August 27 board meeting, the Chicago Teachers’ Pension Fund (CTPF) has hired Loop Capital as a core fixed income manager and provided some updates on its planned private credit commitments.
Loop Capital will run a mandate of between $250M and $300M, within the active domestic core fixed income portfolio. Callan assisted with the recommendation. Longfellow, Merganser, and AFL-CIO were also considered for the search.
CTPF’s current fixed income managers include Garcia, Hamilton & Associates, LM Capital, State Street Global, and WAMCO. As of March 31, the $12.5B pension fund allocates approximately 17.7% to fixed income strategies, with a target of 23%.
Callan also presented an overview on private credits, noting CTPF’s approval of a 3% (or approximately $375M commitment) to private credit, with annual commitments of $50-$150M over the next 10 years at a rate of one to four commitments per year. That follows on CTFP’s announcement in December 2023 that it issued an RFP for private credit managers, a search on which Callan is advising.
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Helen Bascom is a Marketing Associate at Dakota.
