Chicago Policemen's Annuity & Benefit Fund hired Lazard Asset Management and EARNEST Partners to run a combined 6% of assets, or about $186 million, in emerging markets equity, confirmed Samuel Kunz, chief investment officer.
The funding source and how the assets will be split between the two managers, have not been determined, Mr. Kunz said in an e-mail.
An RFP was issued in September. NEPC assisted the $3.1 billion pension fund.
Separately, the board directed NEPC to draft two fixed-income RFPs for the May board meeting. Mr. Kunz said he could not comment further on the searches.
