Teamsters, Local 703, Chicago, hired Chicago Equity Partners to manage $12 million in active domestic midcap core equities for its $202 million pension plan, said Thomas W. Stiede, plan manager. Funding came from terminating two $6 million active domestic midcap equity portfolios, one managed by Roxbury Capital in a growth style, and the other a value portfolio run by Morgan Stanley Investment Management, he said. Plan officials wanted lower fees, Mr. Stiede said, and Morgan Stanley also was terminated for performance. Megan Ochampaugh, spokeswoman for Morgan Stanley, did not return calls seeking comment by press time.
Marco Consulting is advising.
