Norwood (Mass.) Contributory Retirement System hired Aberdeen Asset Management to run $6 million in local currency emerging markets debt, said Debra Wilkes, board administrator.
Also, the $118 million defined benefit fund committed $5 million to Landmark Equity Partners XV, a secondary private equity fund of funds managed by Landmark Partners.
Funding for both came from reductions in the plan's fixed-income portfolio, Ms. Wilkes said. No managers were terminated.
An RFP for the private equity manager was issued June 7; the emerging markets debt RFP was issued July 16.
Meketa Investment Group assisted.