Millennium Park Foundation, Chicago, hired Northern Trust's foundation and institutional advisers practice as money manager of the foundation's endowment investments, said Scott Stewart, executive director, in an email.
The $34 million foundation issued an RFP because the foundation wished to partner with a Chicago-based financial institution "more in tune with the Chicago philanthropic community," Mr. Stewart said.
Northern Trust replaces J.P. Morgan Asset Management, which was not asked to rebid.
