Chicago Laborers' Annuity & Benefit Fund hired Fiera Capital and Hexavest to manage $35 million each in global equities, according to recently released minutes of the $1.4 billion pension fund's Nov. 19 board meeting.
The funding source could not be learned.
An RFP was issued April 29, according to the pension fund's website. Investment consultant NEPC assisted with the search.
Separately, the pension fund board terminated Robeco Investment Management and Baring Asset Management for performance. According to the pension fund's website, Baring managed $34 million in international large-cap growth equities, and Robeco managed $25 million in emerging markets equities.
Katherine McMillan, Robeco spokeswoman, said the money manager had no comment. Michael Siciliano, spokesman at Baring Asset, could not be reached for comment by press time.
The pension fund had a 12% allocation to international equity as of Sept. 30, according to its website.
Maura Murrihy, the pension fund's executive director, could not be reached for details.
