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Laborers' & Retirement Board Employees' Annuity & Benefit Fund of Chicago
Cameron Mock runs the $1.3B Chicago laborers' pension fund, an actively diversified municipal plan serving over 8,000 city workers since 1935.
Laborers' & Retirement Board Employees' Annuity & Benefit Fund of Chicago
The Laborers' & Retirement Board Employees' Annuity & Benefit Fund of Chicago was created by Illinois state statute in 1935 to serve employees of the City of Chicago and the Board of Education in laboring capacities, along with members of three City of Chicago retirement boards. An eight-member Board of Trustees governs the Fund, with the City Comptroller and City Treasurer holding ex-officio seats. As of the most recent Altss estimate, the Fund manages $1.3 billion in investment assets on behalf of more than 8,000 active and retired members. The Fund deploys capital across a multi-manager alternatives program that includes real estate, infrastructure, private credit, venture capital, and distressed debt. Real estate commitments target both commercial and mixed-use properties through vehicles such as JPMorgan Strategic Property Fund, ASB Allegiance Real Estate Fund, and several Long Wharf Real Estate Partners funds. Infrastructure exposure flows through the Ullico Infrastructure Taxable Fund, among other global allocations. The venture and growth-equity book spans early-stage through expansion-stage strategies, run primarily through fund-of-funds and co-investment structures. Named portfolio relationships include Mesirow Financial Real Estate Value Fund IV, Capri Select Income II, and JBC Fund VI. Executive Director and CIO Cameron Mock leads the investment team from the Fund's Chicago headquarters. The Fund maintains active memberships in the National Conference on Public Employee Retirement Systems and the Council of Institutional Investors, reflecting a governance emphasis on corporate accountability and shareholder rights. The Fund also participates in the National Association of Securities Professionals, signaling attention to diversity across its manager roster. The LABF's architecture differs from peer municipal plans in the breadth of its board composition — the City Comptroller and City Treasurer sit alongside labor and retiree representatives, creating a governance layer that embeds municipal fiscal oversight directly into pension investment decisions. This structure shapes the Fund's posture as a patient, policy-driven limited partner rather than a deal-by-deal allocator.
General information
Firm type
Pension Fund
Year founded
1935
AUM
$1.3B (Altss estimate)
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Cameron Mock
Executive Director & CIO
Victor Roa
President, Board of Trustees
Michael Belsky
Vice President, Board of Trustees
Melissa Conyears-Ervin
Trustee & City Treasurer of Chicago
Michael Flores
Secretary, Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at the Laborers' & Retirement Board Employees' Annuity & Benefit Fund of Chicago?
Executive Director and CIO Cameron Mock leads the investment team. The eight-member Board of Trustees, which includes President Victor Roa, Vice President Michael Belsky, and ex-officio trustee Melissa Conyears-Ervin in her capacity as City Treasurer of Chicago, holds fiduciary authority over asset allocation and manager selection.
How does the Fund source its alternative investment opportunities?
The Fund operates as a disciplined limited partner, relying on established manager relationships and industry networks such as the National Conference on Public Employee Retirement Systems and the National Association of Securities Professionals. Its real estate and infrastructure commitments flow through institutional vehicles managed by firms including JPMorgan, Ullico, and Mesirow Financial.
Does the Fund invest directly or through fund commitments?
The LABF primarily commits capital through fund-of-funds, co-investment multi-manager structures, and direct fund commitments. Its real estate portfolio includes both fund vehicles — such as ASB Allegiance Real Estate Fund and Long Wharf Real Estate Partners VII — and direct fund-of-funds placements, while venture and growth strategies are executed largely through third-party managers.
What investment stages does the LABF target in its private markets portfolio?
The Fund covers the full venture lifecycle from seed and start-up through expansion and late stage, alongside buyout, distressed debt, mezzanine, and secondaries strategies. This broad stage coverage reflects a multi-manager approach that diversifies across vintages and strategy types rather than concentrating on a single stage band.
Which sectors does the Fund's real assets book emphasize?
Real estate commitments span commercial and mixed-use properties concentrated in major U.S. markets including New York, Boston, Chicago, and Bethesda. Infrastructure allocations are global in scope, with the Ullico Infrastructure Taxable Fund serving as a named vehicle in the portfolio.
How is the LABF governed, and who sits on its Board of Trustees?
An eight-member Board of Trustees governs the Fund. The City Comptroller and City Treasurer serve as ex-officio members, alongside elected labor and retiree representatives. This statutory composition — established in 1935 — directly embeds municipal fiscal officers into pension investment oversight, a structural feature that distinguishes the LABF from many peer municipal plans.
What is the Fund's posture on co-investments alongside external general partners?
The Fund lists co-investment multi-manager strategies among its active approaches, suggesting a willingness to participate alongside approved managers on a selective basis. Specific co-investment deal terms or recent co-investment activity, however, are not publicly disclosed.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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