Philadelphia Board of Pensions and Retirement hired RhumbLine Advisers to manage $75 million in passive infrastructure and to manage an amount still to be determined in passive U.S. midcap and small-cap equities, said Christopher DiFusco, chief compliance officer, in an email.
The $5.3 billion pension fund issued RFPs in July “following a review of the overall portfolio by Michael (Donatucci, the late chief investment officer), his staff, the consultant and the trustees,” Mr. DiFusco previously said.
RhumbLine was the only qualifying respondent to bid on the infrastructure search. Northern Trust was the only other finalist for the U.S. equities allocations. The funding sources have not been determined.