Chicago Metropolitan Water Reclamation District Retirement Fund hired Neuberger Berman and Pioneer Investments to each run $79 million in active core-plus fixed income, confirmed Susan Boutin, executive director.
Funding comes from cash and rebalancing fixed-income index funds, Ms. Boutin said in a telephone interview. The hires are the only active fixed-income strategies for the $983 million system.
Gray and Co. assisted in the search. An RFP was issued in January.
The retirement fund’s asset allocation is 65% equity and 35% fixed income.