Chicago Firemen's Annuity & Benefit Fund placed Brown Capital Management on watch for its active international equity portfolio.
The $956 million pension fund's board placed the manager on watch at its Oct. 18 meeting to "monitor its reorganizational plan," recently released meeting minutes showed.
The minutes did not disclose the size of Brown Capital's portfolio.
As of Sept. 30, the pension fund's actual allocation to global ex-U.S. equities was 24.5%; the target is 24%.
Investment consultant Callan assisted.
Lorna Scott, the pension fund's chief investment officer, could not be immediately reached for further information.