San Francisco City & County Employees' Retirement System hired Pacific Investment Management Co. to run $100 million to $110 million in emerging markets debt, confirmed Norm Nickens, executive assistant to the $16.7 billion pension fund.
Ashmore Investment Management, Gramercy and Stone Harbor Investment Partners were also finalists.
The pension fund issued an RFP in October after it had decided to liquidate Ashmore Investment Management's local currency short-duration portfolio and pursue a strategy that includes longer-duration assets as well as corporate emerging markets debt.
Separately, the plan committed up to $25 million to RRJ Capital Master Fund II, a private equity fund focused on investments in China and Southeast Asia.
