The Cook County Pension Fund provides retirement and disability benefits to employees of Cook County, Illinois, which is the second-most populous county in the United States. With approximately $11 billion in total assets, the fund serves county employees across various departments.
Investment Strategy
The Cook County Pension Fund maintains a diversified portfolio across public equities, fixed income, private equity, real estate, and other alternatives. The Board of Trustees sets investment policy and asset allocation targets with input from external consultants.
The alternatives program includes private equity commitments across buyout and growth strategies. Real estate allocations provide diversification and income through core and value-add funds. The fund has been expanding its alternatives exposure over the past decade to improve risk-adjusted returns.
Cook County has maintained an active emerging manager program, seeking to diversify its manager base and provide opportunities for smaller and diverse-owned investment firms.
How to Approach
Fund managers should contact the Cook County Pension Fund investment team in Chicago. The fund evaluates managers through a structured process that includes consultant screening, staff review, and Board approval. GPs should present a concise fund overview, audited track record, and competitive terms. The fund’s emerging manager program provides additional pathways for smaller and diverse-owned firms.
Frequently Asked Questions
What is Cook County Pension Fund's alternatives allocation?
The Cook County Pension Fund allocates approximately 14% of its $11 billion portfolio to alternatives including private equity and real estate. The fund has been building its alternatives program to diversify returns and reduce public market volatility.
How does Cook County select investment managers?
The fund works with external investment consultants to identify and evaluate managers. The Board of Trustees reviews and approves all investment decisions. Selection criteria include performance track record, team depth, operational quality, and fee reasonableness.
How can GPs approach Cook County Pension?
GPs should contact the Cook County Pension Fund investment team in Chicago or engage through their investment consultants. The fund is open to both established and emerging managers. Initial outreach should include a fund overview, track record, and fee structure.
