Dennis White was named executive director of the $3.8 billion Chicago Municipal Employees' Annuity & Benefit Fund, said Steve Yoon, investment officer.
Mr. White will replace Jim Mohler, who left the pension fund in June to become executive director of the $1.3 billion Chicago Metropolitan Water Reclamation District Retirement Fund.
Mr. White was previously chief attorney for the Forest Preserve District of Cook County. He has also served as a trustee for the Cook County Employees' and Officers Annuity & Benefit Fund and the Cook County Forest Preserve District Annuity & Benefit Fund, both of Chicago, which have a combined $10.4 billion in assets.
Separately, the pension fund terminated K2 Advisors from its $55 million long/short equity hedge fund portfolio.
Mr. Yoon said the pension fund has been redeeming assets from the fund since the manager was hired in 2009 to run a $100 million portfolio and the board decided to terminate the manager in order to use the assets to make benefit payments. He said performance was not a consideration.