Chicago Park Employees terminates Mesirow Financial
Chicago Park Employees terminates Mesirow Financial
Crain Communications
Chicago Park Employees Annuity & Benefit Fund terminated Mesirow Financial from a $10 million active core fixed-income portfolio.
The $318 million pension fund s board approved the termination of the manager at its April 15 meeting after voting to reduce its target allocation to fixed income to 17.5% from 20.5%.
The pension fund had issued an RFP in March for a core fixed-income manager due to the closure in 2020 of prior manager Chicago Equity Partners. Following that closure, the pension fund temporarily shifted the assets to Mesirow Financial because Chicago Equity s fixed-income team moved to that firm.