Insight

Chicago Police confirms $50m in commitments

The Chicago public pension has backed two private equity co-investment vehicles.

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Institution: Chicago Policemen’s Annuity & Benefits Fund
Headquarters: Chicago, US
AUM: $3.01 billion
Allocation to alternatives: 12.03%

Chicago Policemen’s Annuity & Benefits Fund has approved $50 million in commitments across two private equity funds, according to recently released materials from an October 2021 investment committee meeting.

The public pension has made commitments of $25 million each to Mesirow Financial Private Equity VIII-B and Adams Street Co-Investment Fund V. As with other CPABF investments, these funds were chosen from a four-fund shortlist derived from an earlier RFP issued by the pension.

CPABF allocates $69.14 million to private equity investments, comprising 2.3 percent of its total investment portfolio. The public pension has a target allocation of 7 percent to private equity.

As illustrated below, CPABF’s recent private equity commitments have focused on diversified vehicles that invest in North America and Western Europe.

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