Chicago Policemen's Annuity & Benefits Fund

About Chicago Policemen's Annuity & Benefits Fund

Chicago Policemen's Annuity & Benefits Fund's investment portfolio is valued at $3.42 billion as of March 31, 2024, with investments in publicly traded equities, private equity, fixed-income securities, hedge funds, infrastructure, real assets, natural resources, real estate, and cash. Its returns for 1 year, 3 years, 5 years, and 10 years were 12.27%, 4.37%, 7.68%, and 6.66%, compared to the benchmark return of 12.03%, 4.55%, 7.40%, and 6.44%, respectively. As of March 31, 2024, the private equity portfolio was valued at $214 million, representing 6.2% of the total portfolio. The private equity allocation consists of $68.62 million invested in private debt strategies. This is an increase compared to December 31, 2023, when the private equity portfolio was valued at $202.29 million. The portfolio is currently underweight compared to the target allocation of 15%. As of March 31, 2024, the fund's private equity return for the 1 year, 3 years, 5 years, and 10 years were 0.36%, 15.65%, 28.78%, and 16.28%. Investments in private equity include buyouts, co-investment, fund of funds, distressed debt, secondaries, and venture capital fund strategies diversified in geographical locations across the Americas, Europe, Africa, and Oceania. Within the private equity sub-asset category, the fund invests in the fund of funds, high-quality venture capital partnerships, private equity, investments, direct private placements, and secondary interests in venture capital partnerships, small-capitalization able securities, and corporate re-organization funds (i.e. LBO, management buy-out, and mezzanine financing funds). The fund is open to any first-time fund investments. As of March 31, 2024, the infrastructure portfolio was valued at $115.67 million. The fund's investments are governed by a board of trustees, with Mr. Michael Stiscak serving as President & Recording Secretary of the Board of Trustees. NEPC serves as an LP Consultant.