The Chicago Metropolitan Water Reclamation District Retirement Fund has approved the selection of two managers for an International Equity search that was issued in 2022.
Earnest Partners and Aristotle were selected for the search. The mandate amount is for approximately 5% of the Fund, according to meeting minutes from the November 30 board meeting. Earnest will receive 2/3 of the funding, and Aristotle will receive the other 1/3 of the allocation.
Hardman Johnston and Acadian were the other finalists considered for the search.
Investment consultant, Marquette, assisted with the search.
As of September 30, 2022, the Retirement Fund was valued at approximately $1.2 billion.
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