Ohio Police & Fire Pension Fund, Columbus, hired Loomis Sayles & Co. and Prudential Fixed Income to manage a total of about $800 million in active levered core fixed income, spokesman David Graham said in an e-mail.
The $14.2 billion pension fund conducted an invitation-only search beginning in June for managers to replace J.P. Morgan Asset Management, which was terminated in May from a similar strategy because of changes to the pension fund's strategy for its core fixed-income portfolio and key portfolio management departures on J.P. Morgan's core bond team. JPMAM ran about $540 million; additional funding will come from overweight asset classes, Mr. Graham said.
Wellington Management was the other finalist.
General investment consultant Wilshire Associates assisted.
Separately, the pension fund committed up to $50 million to Brookfield Premier Fund, an open-end core-plus real estate fund managed by Brookfield Asset Management. The pension fund committed $25 million to Brookfield Brazil Timber Fund II in 2012.
Real estate consultant Townsend Group assisted.
Finally, the pension fund committed up to $40 million to MBK Partners IV, a buyout fund concentrating investments in South Korea, Japan and China. It is the pension fund's first commitment to a fund managed by MBK Partners.
Private markets consultant TorreyCove Capital Partners assisted.