Chicago Laborers' Annuity & Benefit Fund is searching for an active emerging markets equity manager to run about $20 million.
The $1 billion pension fund is seeking proposals from active emerging markets equity managers that have at least five years of experience in the asset class and a portfolio management team that has overseen the strategy for at least three years, according to an RFP on its website.
The RFP does not disclose the reason for the search. According to Nov. 17 board meeting minutes, current emerging markets equity manager Vontobel Asset Management is currently on watch for undisclosed reasons, and the approval for an RFP process for the portfolio was to be placed on the Dec. 19 board meeting agenda. Pension fund executive director Tina Consola could not be immediately reached for further information.
The RFP is available on the pension fund's website. Proposals are due at 4 p.m. CST on Jan. 26. A timeline for a selection has yet to be determined.
Investment consultant Marquette Associates is assisting.
