Searches and Hires

Chicago Park Employees taps 3 for international equity

Chicago Park Employees' Annuity & Benefit Fund hired Ariel Investments,Ativo Capital and Denali Advisors to manage $35 million total in international equity, recently released board meeting minutes showed.

Ariel and Ativo received $15 million each, while Denali received $5 million.

Dean Niedospial, executive director of the pension fund, previously told Pensions & Investments that funding was expected to come from a Northern Trust Asset Management international equity index fund, which had about $50 million as of Nov. 30.

An RFP for international equity managers was issued by the $386 million fund last year. Responding firms had to be minority-owned or female-owned or owned by a person with a disability.

The RFP cited diversification within the pension fund's roughly $82.1 million international equity portfolio as one reason for the search. One of the firm's existing minority-owned international equity managers, Lombardia Capital Partners, shut its doors earlier this year.

Mr. Niedospial could not immediately be reached for additional information.