SEARCHES AND HIRES

Libertyville Police Pension Fund on lookout for fixed-income managers

Libertyville (Ill.) Police Pension Fund is searching for a fixed-income manager or managers, said Patrice Sutton, director of finance for the village and treasurer of the pension fund, in an email.

Great Lakes Advisors currently manages the total pension fund portfolio of roughly $28.8 million, and the pension fund wants to explore whether splitting responsibilities for fixed income and equity would be better for the pension fund. Roughly $12 million of the pension fund’s total assets is invested in fixed income.

Great Lakes is invited to rebid.

It has not been determined whether the equity portion of the portfolio would continue to be managed by Great Lakes, internally managed or put out to bid.

The fixed-income RFP is available on the village’s website. Proposals are due by 5 p.m. CDT on April 7, with a hiring decision some time after.