Municipal Employees' Annuity & Benefit Fund of Chicago hired William Blair to manage $30 million in active emerging markets equities, said Jim Mohler, senior investment manager. The board of the $6 billion fund is also hiring another active emerging markets equity manager to run an additional $30 million, but Mr. Mohler would not name the firm because a contract won't be finalized until later this month. Funding for both managers came from reducing domestic equity investments; no managers were terminated, he said. The board decided to hire the two managers for greater diversification.
Becker Burke Associates assisted with the shortlist search.
