Chicago Laborers' Annuity & Benefit Fund hired UBS Global Asset Management to run $32 million in local currency emerging markets debt, according to recently released minutes of the Feb. 19 board meeting.
It is the $1.4 billion pension fund's first investment in emerging markets debt. An RFP was issued in July.
Investment consultant NEPC assisted.
Aileen Pecora, interim executive director, did not return a telephone call by press time.