The $10.9 billion Ohio Police and Fire Pension Fund terminated Chicago Equity Partners, which ran $300 million in active domestic midcap core equity, because of performance, confirmed Dave Graham, fund spokesman.
The manager had been on watch since January 2008. The money will be moved to another asset class, but the specifics haven’t been determined yet, Mr. Graham said.
Patrick C. Lynch, president of Chicago Equity Partners, could not be reached immediately for comment.
Fund officials also removed Western Asset Management from its watchlist, where it had been placed in April 2009. Mr. Graham said WAMCO, which manages $466 million in core fixed income, showed an improvement in investment performance.
The system also committed $25 million to Fortress Japan Opportunity Fund, a real estate fund.