Searches and Hires

Denver Employees selects Colchester for local currency emerging markets debt

Denver Employees Retirement Plan selected Colchester Global Investors to run about $57 million in an emerging markets local currency debt mandate, said Randall Baum, chief investment officer for the $2.3 billion pension fund, in an email.

Colchester replaces Pictet Asset Management, which was terminated earlier this year for undisclosed reasons. A spokesman for Pictet Asset Management could not immediately be reached for comment.

Mr. Baum declined to disclose other firms the plan considered in the invitation-only search. Investment consultant Summit Strategies Group assisted.

DERP has a 2.5% allocation to emerging markets local currency debt.