Oak Park (Ill.) Police Pension Fund hired MetLife/Bank of Ireland to manage $3 million in active international equity, said Gregory J. Peters, director of finance and treasurer. The $55 million pension plan will fund the hire from cash and by reducing domestic government fixed-income portfolios run by Mesirow Asset and Bradford & Marzec. Mr. Peters did not say how much would be taken from each portfolio and how much each manager would continue to run. Plan officials want to diversify, he said.
The current allocation is 67% fixed income, 23% large-cap equity, 7% small-cap equity and 3% international equity. Disabato Associates advised.