Chicago Metropolitan Water Reclamation District Retirement Fund is searching for two active global fixed-income managers to run about $50 million each, said Susan Boutin, executive director of the $1.3 billion pension fund.
The pension fund is looking to add to its current roster of two active fixed-income managers in preparation for rising interest rates.
As of June 30, Neuberger Berman and Pioneer Investments ran about $114 million and $122 million, respectively, in active core-plus fixed income and State Street Global Advisors ran about $188 million in a fixed-income index fund
The RFP is available on the pension fund’s website. Proposals are due by 3 p.m. CST on Dec. 22. A hiring decision is expected Feb. 25. Funding sources have not been determined.
Marquette Associates, the pension fund’s investment consultant, is assisting with the search.
Separately, the pension fund rehired Legacy Professionals as auditor, Ms. Boutin said. An RFP was issued in June as a due diligence measure.