Wayne County Employees' Retirement System, Detroit, hired Hardman Johnston Global Advisors to run $24 million in active international developed market equities.
The $1 billion pension fund's board approved the hiring at its June 29 meeting, recently released meeting minutes show.
At the same meeting, the board approved the termination of Lazard Asset Management from an active emerging markets equity portfolio. The size of the portfolio and reason for the termination was not immediately available.
Investment consultant AndCo Consulting assisted.
Robert Grden, executive director, Cassandra McDonald, vice chairwoman of the board, and Henry Wilson, chairman of the board, did not respond to requests for further information.
