Cook County Annuity & Benefit Fund, Chicago, hired MacKay Shields to run about $300 million in core-plus fixed income, according to minutes recently posted on the $7.6 billion system's website.
An RFP was issued in August. Loomis Sayles and Prudential were the other finalists.
The fund also committed $75 million each to J.P. Morgan Select Property Fund and Prudential PRISA.
Separately, the fund terminated Optimum Investment Advisors, which ran $150 million in domestic large-cap growth equities; and NCM Capital Management, which ran $50 million in domestic large-cap core equities. Both were terminated for “organizational events and performance,” according to the minutes.
A phone call to Optimum Investment Advisors was not returned by press time, and Maceo K. Sloan, chairman, CEO and chief investment officer at NCM Capital, was not available for comment.
Callan Associates assisted.
A phone call to Daniel R. Degnan, executive director, was not returned by press time.