Knoxville (Tenn.) City Employees' Pension Plan has picked Calamos Asset Management as its first convertible securities manager, and Southeastern Asset Management as its first publicly traded REIT manager, said Mike Cherry, executive director at the $720 million fund. Both Calamos and Southeastern will receive 7.5% of the fund's assets, or $54 million each.
The fund also picked a new large-cap value manager, but Mr. Cherry declined to name the firm because some of the losing finalists have not yet been informed.
Money for Calamos will come from paring the fund's exposure to its two domestic fixed-income managers, Miller Anderson & Sherrerd and STW Fixed Income Management, which manage $121 million each.
Money for the publicly traded REIT manager will come from a $117 million domestic midcap portfolio, also with Southeastern. Mercer assisted.
