Wayne County Employees' Retirement System, Detroit, hired Garcia Hamilton & Associates and National Investment Services to manage $60 million each in intermediate-duration fixed-income portfolios.
The $1.1 billion pension fund's board approved the hirings at its May 24 meeting, said Robert Grden, executive director, in an email.
Mr. Grden said funding will come from another fixed-income portfolio managed by Loomis Sayles & Co. He could not be immediately reached for further information on that portfolio.
Investment consultant AndCo Consulting assisted.