Chicago Metropolitan Water Reclamation District Retirement Fund named four finalists in its search for active global fixed-income managers to run $50 million each, said Susan Boutin, executive director of the $1.3 billion pension fund, in an e-mail.
The finalists are AllianceBernstein, Franklin Templeton Investments, Standish Mellon Asset Management and Wellington Management.
The pension fund is looking to add two managers to its current roster of active fixed-income managers in preparation for rising interest rates. An RFP was issued in November.
Ms. Boutin did not disclose an expected hiring date.
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.
Marquette Associates, the pension fund’s investment consultant, is assisting with the search.
