Chicago Fire Invites Five Finalists to Core Plus FI Search, Ratifies WAM Termination

The Chicago Firemen’s Annuity & Benefit Fund invited five finalists for presentations related to its core plus fixed income manager search as the pension officially dropped Western Asset Management (WAM) from its fixed income portfolio.

According to recently published minutes from its November 20 meeting, the board approved invitations to JP Morgan Asset Management, MFS Investment Management, PGIM Investment Management, Longfellow Investment Management, and Ramirez Asset Management to a meeting on December 13, 2024, as recommended by the pension’s investment committee. The motion preceded a unanimous vote by the board ratifying a phone poll from October 2024 that directed staff and general consultant Callan to redeem the Chicago pension’s investment portfolio with WAM. 

Dakota previously reported on the issuance of the core plus fixed income RFP on September 20, which was issued together with a core fixed income RFP for a mandate of $70M and $50M, respectively. Callan is assisting the pension in the manager searches.