Chicago Firefighters chooses Evergreen

Chicago Firemen’s Annuity and Benefit Fund hired Evergreen Investments to run $50 million in active domestic large-cap value equities, said CIO Michael Moran. Funding comes from a similar style portfolio run by Mesirow Financial. Officials at the $1.3 billion fund wanted to reposition some of the portfolios after an asset-liability study by consultant Mercer came out in March; performance was not a factor, Mr. Moran said. Mesirow still manages $5 million in private equity for the fund, he said. An RFP was not issued; the search was handled internally.