The Chicago Teachers’ Pension Fund Board of Trustees Take Investment Action During December Board Meeting

The approved action will continue to diversify CTPF’s investment portfolio
News

At their December 14, 2023, meeting, the Chicago Teachers’ Pension Fund (CTPF) Board of Trustees approved a $10 million investment with Farol Asset Management Fund III (FAM III).  

FAM III is targeting $225 million with plans to make 8 to 12 platform investments. Farol Asset Management, an MWBE firm, formed FAM III to continue its strategy of making equity co-investments alongside diverse next-generation managers. (Of the 29 investments Farol has made, 27 investments were led by MWBE firms). With a specific focus on lower middle market companies in niche industries with sustainable competitive advantages, Farol’s top 3 invested industries are in business services, manufacturing, and software.  

Farol Asset Management enhances diversification in CTPF Private Equity portfolio. CTPF previously committed $12.5 million to Farol Fund II in 2018.