Milwaukee County Employees' Retirement System hired TCW Group to manage about $52 million in active emerging markets debt, recently released board meeting minutes shows.
The $1.7 billion pension fund issued an RFP in December. Finalist information and the funding source were not provided.
According to its most recent available investment report, the pension fund had no assets in emerging markets debt as of Jan. 31. As of that date, the pension fund had two fixed-income managers: Galliard Capital Management, running a $201 million active core fixed-income portfolio, and Northern Trust Asset Management, running a $107 million passive core fixed-income portfolio. The actual allocation was 18.5%; the fixed-income target is 23%.
Investment consultant Marquette Associates assisted.
Tina Lausier, fiscal officer–retirement plan services, could not be immediately reached to provide further information.