Massachusetts Laborers Pension Fund, Burlington, hired Loomis, Sayles and MetLife to manage $88 million in a guaranteed fixed-income return fund.
The assets came from reducing the portfolios of existing managers, said Thomas P.V. Masiello, administrator for the $800 million pension fund. Loomis will manage the fund, while MetLife guarantees the portfolios return.
Meketa Investment Group assisted in the search.