Policemen's Annuity and Benefit Fund of Chicago hired Chicago Equity Partners to manage $100 million in active domestic midcap equities. Ennis Knupp assisted. Funding will come from terminating Northern Trust Global Investments from an S&P 400 fund, said John J. Gallagher Jr., acting executive director of the $3.7 billion fund. The money has been parked in the fund since the fourth quarter of 2003. Mr. Gallagher said trustees decided this November to move the plan's midcap stock allocation back into active management.