Chicago Park Employees' Annuity & Benefit Fund made three new allocations within opportunistic fixed income totaling $17 million.
The $289 million pension fund's board at its July 16 meeting approved hiring National Investment Services to run $7 million in its dynamic fixed-income strategy, and committed $5 million each to Crescent Credit Opportunities Fund, managed by Crescent Capital Group, and EnTrust Global's Global Recovery Fund.
The pension fund issued an RFP in April to provide diversification within the fixed-income asset class and complement existing core managers, according to the RFP.
Other finalists were BMO Global Asset Management, Corbin Capital Partners and Kayne Anderson Capital Advisors.
As of March 31, the actual allocation to fixed income was 21.4%.
Investment consultant Marquette Associates assisted.
Dean J. Niedospial, executive director, could not be immediately reached for further information.
