Chicago Laborers' Annuity & Benefit Fund hired global tactical asset allocation managers Wellington Management and Pacific Investment Management Co. to run a total of $120 million, according to recently posted board meeting minutes.
The board of the $1.4 billion retirement system approved the hirings at its Oct. 18 meeting. Wellington Management will run $72 million; PIMCO, $48 million.
BlackRock was the other finalist.
An RFP was issued in April
Investment consultant NEPC assisted.
James Capasso Jr., the pension fund's executive director, was not available for comment.