Plymouth County (Mass.) Retirement Association hired Lee Munder Capital Group to run an emerging markets equity strategy, confirmed William Farmer, executive director.
The hire is pending contract negotiations and approval from the Massachusetts Public Employee Retirement Administration Commission, Mr. Farmer said in an e-mail. He did not comment further.
The size of the allocation has not been determined, but the $710 million pension fund issued an RFP in January for a manager to run about $20 million. The other finalist was OFI Global Asset Management.
Investment consultant Wainwright Investment Counsel assisted.
The Boston Co. Asset Management previously managed the emerging markets equity portfolio.
Separately, the board voted to remove Eaton Vance Management's high-yield bond strategy from the watchlist. Eaton Vance manages about $27 million for the pension plan.