SEARCHES AND HIRES

Cook County plans scouting for transition managers

Cook County Annuity & Benefit Fund and Cook County Forest Preserve District Employees' Annuity and Benefit Fund, both of Chicago, are searching for firms to place on a list of transition managers to be used on an as-needed basis, according to an RFP on the plans’ website.

Transition managers chosen for the list “will assist in any portfolio liquidations, benchmark or manager changes, asset allocation shifts, portfolio rebalancing and other restructuring,” according to the RFP.

Current transition managers for the pension funds are Citibank, Northern Trust, Russell Investments and State Street. It was not immediately known if the firms can rebid; officials at the pension fund could not be reached for details.

The RFP is on the pension plans’ website. Registration is required.

Proposals are due at 3 p.m. CDT May 12. A hiring date was not provided.

Bank of New York Mellon (BK) is the pension fund’s custodian; Callan Associates is investment consultant.

The county plans have a combined $9.1 billion in assets.