Chicago Laborers' Annuity & Benefit Fund hired LM Capital Group to run $17 million in core-plus fixed income.
An RFP was issued in August. The $1.2 billion pension fund's board approved terminating a fixed-income portfolio run by Williams Capital Management to fund the new mandate.
Separately, the board named four finalists for real estate searches — CB Richards Ellis Investors, Mesirow Financial, Alliance Residential and Westport Capital Partners. The pension fund issued an RFP in August for core, value-added and opportunistic real estate managers to run $5 million each.
Consultant NEPC assisted with both searches.