The Municipal Employees Annuity & Benefit Fund of Chicago has hired Lazard Asset Management for their Emerging Markets Equity Search, according to minutes from the January 18th Board meeting.
The mandate is for roughly $75 million in the active emerging markets equity exposure. The fund's Emerging Markets exposure is currently managed by William Blair.
Other finalists for the search included the Boston Common Emerging Markets Equity and Driehaus Emerging Markets Growth.
Consultant, Marquette assisted with the recommendation.
As of December 31, 2023, the fund was valued at approximately $3.5 billion.
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