Santa Barbara County (Calif.) Employees' Retirement System hired Wellington Management to run about $102 million in active emerging markets debt, said Lauren Thompson, assistant CEO, in an email.
The $3.1 billion pension fund issued an RFP in September because incumbent manager Stone Harbor Investment Partners was on watch over performance concerns. The firm rebid for the services, Ms. Thompson said.
The other finalists were Aberdeen Standard Investments, Ashmore Group and Grantham Mayo Van Otterloo. Officials at Stone Harbor could not be immediately reached for comment.
As of Sept. 30, the pension fund's actual allocation to non-core fixed income was 9.2%; the target is 11%.
Investment consultant RVK assisted.