Knoxville (Tenn.) City Employees' Pension Fund hired Pictet Asset Management to run $13 million in active emerging markets debt, confirmed Kristi Fowler Paczkowski, executive director.
It is the $510 million pension fund's first investment in emerging markets debt, said Ms. Paczkowski. She could not immediately provide funding information.
Separately, the pension fund committed $5 million to Fort Washington Private Equity Opportunities Fund III, a private equity fund of funds managed by Fort Washington Capital Partners Group.
Investment consultant Summit Strategies Partners assisted.