Atlanta General Employees’ Pension Fund hired EARNEST Partners to manage a $37 million active emerging markets equity portfolio and Colchester Global Investments to manage a $74 million global fixed-income portfolio, said Douglas I. Strachan, chairman of the board of trustees, in an e-mail.
The $1.3 billion pension fund hired the managers at its March 26 board meeting following an asset allocation study in 2014 by new investment consultant Callan Associates. Mr. Strachan said these are new asset classes, added to “diversify the portfolio,” and funding came from various sources due to the reallocation of the portfolio. He did not provide further information.
According to recently released board minutes, other emerging markets equity finalists were Aberdeen Asset Management, BlackRock, LMCG Investments and Parametric Portfolio Associates. Other global fixed-income finalists were Brandywine Global Investment Management and Mondrian Investment Partners.