Sonoma County Employees' Retirement Association, Santa Rosa, Calif., hired DoubleLine Capital to run a $105 million domestic core-plus fixed-income portfolio, said Stephen Marsh, investment analyst.
The $2.2 billion pension fund conducted an invitation-only search as a result of the termination of Western Asset Management Co. from a similar portfolio, because of personnel changes at the firm.
Mr. Marsh said the hire is pending successful contract negotiations and financial terms.
Other finalists were Barrow, Hanley, Mewhinney & Strauss; Loomis Sayles; Neuberger Berman; and TCW Group.
Investment consultant Hewitt EnnisKnupp assisted.