Chicago Laborers' Annuity & Benefit Fund hired LM Capital Group to run a $47 million emerging markets debt portfolio, according to recently released minutes of the $1.4 billion board's June 16 meeting.
The funding source could be learned. Michael Walsh, executive director and chief investment officer, could not be reached for information.
The pension fund issued an RFP in September.
According to LABF's website, UBS Asset Management is listed as the lone emerging markets debt manager, running $32 million. LM Capital already manages $18 million in core-plus fixed income for the pension fund, according to the website.