Philadelphia Gas Works Retirement Reserve hired Logan Circle Partners to manage approximately $15 million in an active U.S. investment-grade fixed-income portfolio.
This is a new allocation for the $500 million pension fund, said Christopher DiFusco, chief investment officer for the Philadelphia Sinking Fund Commission, trustee for the pension fund, in an email. Funding for the allocation has yet to be determined.
Sit Investment Associates and Income Research & Management were the other finalists.
The RFP was issued in June.