Searches and Hires

Chicago Water seeks minority manager to run core-plus fixed-income portfolio

Chicago Metropolitan Water Reclamation District Retirement Fund is searching for a minority- or women-owned core-plus fixed-income manager to run about $68 million, according to an RFP posted on the website of Marquette Associates, the $1.3 billion pension fund's investment consultant.

As of Dec. 31, the actual allocation to fixed income was 31.9%; the target is 30%. As of Dec. 31, Neuberger Berman was the pension fund's sole core-plus fixed-income manager with a $105 million portfolio, according to a manager report on the pension fund's website.

The RFP is available on Marquette Associates' website. Proposals are due 3 p.m. CDT June 3. Finalists are tentatively scheduled to be chosen July 1; a timeline for a decision was not provided.

Marquette Associates is assisting with the search.

Acting Executive Director Joseph F. Kennedy did not return a phone call seeking further information.