Chicago Municipal Employees’ Annuity & Benefit Fund hired Segall Bryant & Hamill to manage $50 million in active international small-cap equities, a pension fund spokesman said.
The $4.6 billion pension fund issued an RFP in January to gain active exposure in international small-cap equities. Funding comes from a $300 million passive international small-cap equity portfolio managed by Northern Trust Asset Management. The pension fund also might potentially add $50 million to the active portfolio in the future, also funded from the same source.
Other finalists were Ativo Capital Management, Goldman Sachs Asset Management and Oppenheimer Capital.
Investment consultant Marquette Associates assisted.
