Chicago Laborers' Annuity & Benefit Fund hired Balestra Capital and Stenham Asset Management America to each run $13 million in global macro hedge funds of funds, according to recently released minutes of the $1.4 billion pension fund's June 19 board meeting.
Permal Group and Centennial Partners were the other finalists.
An RFP was issued in December. Investment consultant NEPC assisted.
James Capasso Jr., executive director of the $1.4 billion pension fund, did not return a telephone call by press time for further details.