Chicago Laborers' Annuity & Benefit Fund hired Attucks Asset Management as manager of emerging managers to oversee $100 million in equity and fixed-income portfolios.
The $1.1 billion pension fund's website disclosed a contract with Attucks was finalized in May on a list of investment service providers.
The pension fund issued an RFP in January for a manager of emerging managers, defined as any manager owned by women, minorities or a person with a disability that has $10 million to $10 billion in assets under management.
While the pension fund did not disclose the reason for the search, Progress Investment Management had been the incumbent manager of emerging managers. Progress announced in late 2019 it would be closing.
Investment consultant Marquette Associates assisted.
Peggy Grabowski, interim executive director and comptroller, could not be immediately reached for further information.