Alameda-Contra Costa Transit District Retirement System, Oakland, Calif., hired Investec Asset Management to run 5% of total plan assets, or about $28 million, in a blended emerging markets debt strategy, said recently released board meeting minutes.
The funding source could not be learned by press time.
Earlier this year, the $550 million pension fund voted to terminate emerging markets debt manager Stone Harbor Investment Partners because of underperformance, previous board meeting minutes show. The amount the pension fund had invested with Stone Harbor could not be learned by press time.
A Stone Harbor spokeswoman could not immediately be reached for comment.
Hugo Wildmann, retirement system manager, could not be reached for additional information by press time.