CTPF’s CIO Lays Out Factors in Fund’s GP Selection

The approximately $11 billion Chicago Teachers Pension Fund (CTPF) has a 9% allocation to real estate, 6.9% of which is managed by external asset managers that are general partners (GPs). The fund expends a great deal of time and effort in its selection process for GPs with which to do business. According Angela Miller-May, CTPF’s …

Across the Board on ESG

With this edition of Institutional Allocator, we bring you this new feature we’ve dubbed Across the Board. In it, IA asks its advisory board members–who collectively represent broad investment industry expertise–to share thoughtful observations on selected industry themes and topics. To Inaugurate the feature, IA recently asked board members to comment on a few basic …

CTPF Jumps Into Africa

Investors’ Long Day’s Journey into Africa Investing Continues The approximately $11 billion Chicago Teachers’ Pension Fund (CTPF) evidently was attentive and took careful notes as part of a delegation of investors that visited South Africa in the spring of 2017, and Senegal and South Africa one year later. The upshot: At its Jan.17 board meeting, …

Investors are Missing Out on EM Infrastructure

There are many reasons North American investors are taking a pass on buying emerging market infrastructure: compliance, due diligence, unfamiliarity with those markets, to name three. But is their caution warranted, or are attractive opportunities being missed?  Kamal Suppal, chief investment auditor at Emerging Markets Alternatives, an investment auditor, and former senior research consultant at …

CIOs Passing on Pricey European Infrastructure, In Favor of “New World” Opportunities

Europe has, for some time, been the sweet spot for institutional investors seeking infrastructure exposure, but with so many investors chasing the same deals, supply-demand pressures have depressed returns in the asset class there. As such, some market participants are questioning why more North American institutional investment officers aren’t seeking newer or less-trodden paths to …

Renewable Energy Investments Taking Hold in Institutional Portfolios

Institutional investors are looking for opportunities to invest in renewable energy, and the markets have taken note.  In fact, more than half (54%) of the number of infrastructure deals completed in Q2 2018 were for renewable energy assets, while energy assets and utilities assets each accounted for 11% of all infrastructure deals, according to a …