Chicago Transit Authority Employees Retirement Plan hired Northern Trust Asset Management as an equity manager and Franklin Templeton Investments and Logan Circle Partners as fixed-income managers, recently released board meeting minutes showed.
Northern Trust will passively manage an S&P 500 index fund and non-U.S. large-cap index fund. Additional information, including an allocation size, was not disclosed.
RFPs for passive equity managers was issued in November.
On the bond side, Franklin Templeton will manage a global fixed-income strategy, and Logan Circle will run an emerging markets debt strategy. Allocation sizes and funding sources could not be learned by press time.
RFPs for global fixed-income managers and emerging markets debt managers were issued in December.
The other global fixed-income finalists were Brandywine Global Investment Management and Standish Mellon Asset Management. Franklin Templeton was the other finalist in the emerging markets debt search.
Investment consultant Marquette Associates assisted.
As of Sept. 30, the $1.9 billion pension fund had a 36% target allocation to U.S. equity, 15% to non-U.S. equity and 22% to fixed income.
John Kallianis, the pension fund’s executive director, could not immediately be reached for additional information.
