City of Milwaukee Employes’ Retirement System hired Newton Capital Management to manage $62.5 million in a global real-return portfolio, the pension fund’s investment committee meeting minutes show.
The hiring is part of Milwuakee Employes’ 5% target allocation to absolute return. The pension fund has $5.1 billion in assets.
Newton is using an unconstrained multiasset approach, a news release from the company said.
Bernard J. “Jerry” Allen, CMERS executive director, and David M. Silber, CMERS chief investment officer, couldn’t be reached for comment.