Chicago Park Employees' Annuity & Benefit Fund hired Parametric Portfolio Associates as a defensive equity manager, pending final approvals, said recently released board meeting minutes.
The size of the allocation could not immediately be learned.
Also, the minutes showed EnTrustPermal was terminated as a hedge fund-of-funds manager. The reason for EnTrust's termination and whether funds will be reallocated to Parametric could not immediately be learned.
EnTrust managed $22 million for the $383 million pension fund as of March 31.
Dean Niedospial, executive director of the pension fund, could not immediately be reached for additional information by press time.