Chicago Metropolitan Water Reclamation District Retirement Fund hired Dimensional Fund Advisors as its first dedicated emerging markets equity manager, said Susan Boutin, executive director.
Dimensional will manage 6% of the total $1.2 billion pension fund portfolio, or roughly $75 million.
Funding will come from rebalancing with no terminations.
An RFP was issued in July. The other finalists were Wellington Management, Lazard Asset Management and Driehaus Capital Management.
Investment consultant Marquette Associates assisted.
