DeKalb County Employees Retirement Plan, Decatur, Ga., hired Marathon Asset Management to manage about $35 million in active international core equities, according to recently released board meeting minutes.
The $1.3 billion pension fund hired the manager following a shortlist search to replace Grantham, Mayo, Van Otterloo & Co., which managed a similar portfolio. The reason for terminating GMO was not provided.
Other finalists were Acadian Asset Management and Morgan Stanley Investment Management.
Investment consultant Callan Associates assisted.
Edmund J. Wall, chairman of the board of trustees, and John F. McMullan, member of the board of trustees, could not be immediately reached to provide further information.
