Cook County Annuity & Benefit Fund, Chicago, hired Boston Common Asset Management to run about $170 million in active international developed markets equities, said Fernando I. Vinzons, director of investments.
The $11.2 billion pension fund issued an RFP in August for an emerging manager to run an international equity portfolio because of the closure of incumbent manager Progress Investment Management in May. The assets have been parked with the pension fund's short-duration fixed-income managers since the closure.
The pension fund's target allocation to international equities is 21%.
Investment consultant Callan assisted.