Searches and Hires

Phoenix City Employees taps Logan Circle for emerging market debt

Phoenix City Employees' Retirement System hired Logan Circle Partners to run about $75 million in active emerging market debt, said Greg Fitchet, investment manager.

The $2.5 billion pension fund conducted a shortlist search earlier this year. Incumbent MFS Investment Management, which ran about $107 million, and Payden & Rygel were the other finalists.

The reason for the decrease in the portfolio was the reduction of the pension fund's emerging markets debt target to 3% from 5% in March 2017. The rest of the money will go to other managers.

Investment consultant Meketa Investment Group assisted.