Macomb County Employees' Retirement System, Mount Clemens, Mich., hired Baird Advisors to manage an undetermined amount in active domestic core fixed income.
The $970 million pension fund's board approved the hiring at its Sept. 10 meeting, recently released board meeting minutes show.
The pension fund conducted a shortlist search for a single manager to run the core fixed-income portfolio. Other finalists were Dodge & Cox and Western Asset Management, according to the minutes.
Investment consultant AndCo Consulting assisted.
Stephanie Dobson, retirement administrator, referred questions to Michael Holycross, senior consultant at AndCo Consulting, the pension fund's investment consultant, who could not be immediately reached for further information.