Kansas City (Mo.) Employees' Retirement System hired Northern Trust to run $30 million in active domestic equity in the firm's manager-of-emerging-managers program, said Rick Boersma, executive officer. The program will give the pension fund access to managers which it might otherwise not have, according to Mr. Boersma. He said officials of the $750 million system had been looking into adding an emerging managers program over the last few years.
Funding came from trimming existing domestic equity portfolios. No managers were terminated, Mr. Boersma said. Ennis Knupp conducted the shortlist search.