CTPF Recommends $30M RE Allocation, PE Pacing, and Consultant RFP

The Chicago Teachers’ Pension Fund (CTPF) is considering a $30M allocation to a Basis Investment Group (BIG) real estate fund, a $180M total target commitment for its 2025 private equity pacing plan, and the launch of an investment consultant search for FY 2027-2031. 

According to CTPF’s February 4 board meeting materials, general consultant Callan recommended the follow-on commitment to Basis Real Estate Investment Group Fund III. CTPF previously committed $30 million to the fund’s first iteration in 2018 and $40 million to its second vintage in 2021.

Additionally, CTPF is targeting up to $180M in commitments to private equity in 2025, made up of $150M to the Adams Street separate account program, $20M to existing majority-owned developed managers, and $10M to an existing MWDBE manager. The allocation aims to reduce the private equity portfolio from its current overweight position while maintaining the original 5% target.

Finally, the Illinois pension is also considering the issuance of an RFP in the first half of 2025 to seek investment consultants for FY 2027-2031. The search anticipates the end of Callan’s five-year contract with the pension on June 30, 2026. CTPF expects to select a finalist by the third quarter of this year, to enable a transition period by the first half of 2026. 

New call-to-action

Written By: Dakota