Chicago Firemen's Annuity & Benefit Fund hired Mesirow Financial to run about $30 million in active domestic smidcap value equities.
The $945 million pension fund's board approved the hiring at its April 19 meeting, recently released meeting minutes show.
The pension fund issued an RFP in October. The funding source of the search was not disclosed in the RFP or in subsequent board meeting minutes.
According to the pension fund's website, the existing smidcap value equity manager was Keeley Teton Advisors.
As of March 31, the pension fund's actual allocation to domestic equities was 35.7%; the target is 33%.
Investment consultant Callan assisted.
Lorna Scott, chief investment officer, could not be immediately reached for further information.