Baltimore City Fire & Police Employees' Retirement System hired Manulife Investment Management to manage a $100 million private equity co-investment program separate account.
The $3.2 billion pension fund's board approved the hiring at its July 19 meeting, spokeswoman Amy E. Baskerville said in an email.
The pension fund conducted a shortlist search, and the other finalists were Adams Street Partners, Constitution Capital Partners and Farol Asset Management.
Ms. Baskerville said the funding source has yet to be determined.
As of July 31, the pension fund's actual allocation to private equity was 12.1%; the target is 11%.
Investment consultant NEPC assisted.
