Metropolitan Water Reclamation District of Greater Chicago terminated active large-cap manager Duff & Phelps, which handled $90 million to $100 million for the $1 billion plan, for performance-related reasons, said Thomas O’Connor, president of the retirement fund.
Officials at Duff & Phelps declined to comment on the termination.
Also, the plan soon will solicit invitation-only bids for an all-cap core equity manager, as it did not find candidates that met its criteria when it searched earlier this year.
