Springfield (Mo.) Police Officers' & Firefighters' Retirement System hired Pyramis Global Advisors to run about $8 million in active emerging markets debt, confirmed Janell Manley, administrative director.
It is a first-time allocation to emerging markets debt for the $230 million pension fund, which conducted an invitation-only search following the approval of the new target allocation of 5% in November 2011.
Funding will likely come from equities and no managers will be terminated, Ms. Manley said. She would not name the other finalists.
Investment consultant Segal Rogerscasey assisted.