Chicago Laborers’ Annuity & Benefit Fund hired Chase Investment Counsel and Holland Capital Management to run $25 million each in active domestic large-cap growth equities, said James Capasso Jr., executive director. Funding will come from reducing a portfolio, managed by Alliance Capital in a similar style, to $60 million from $110 million. Officials at the $1.4 billion plan wanted multiple managers in the asset style, he said.
The fund’s asset allocation is 44% domestic equity, 45% fixed income, 6% international equity, 3% real estate and 2% venture capital. Becker, Burke advised.
