Chicago Metropolitan Water Reclamation District Retirement Fund hired four active domestic small-cap equity managers to run a combined $50 million, confirmed Susan Boutin, executive director of the $950 million fund.
Value managers GW Capital and WCM Investment Management will run $17.1 million and $11 million, respectively, while Geneva Capital Management will handle $12.7 million and Profit Investment Management, $9.2 million, both in growth, Ms. Boutin said in a telephone interview. All four managers are new to the retirement system.
Ms. Boutin said the system had issued RFPs for midcap equities managers in March and for small-cap equities managers in April, but in July the system decided to increase the number of small-cap managers hired to four from two and to cancel the two midcap managers.
As of March 31, the system had a 55% target allocation to domestic equity and an actual allocation of 61.7%. Fixed income had a 35% target and an actual allocation of 28.2%, while international equities had a target of 10% and an actual allocation of 10.1%.