According to the December 2023 meeting minutes, the Employees Retirement System of Milwaukee County has finalized the hiring of a new fixed income manager, Income Research & Management.
IR+M was previously hired for the search in 2023. The new manager will be initially funded $30 million with the goal of increasing funding to $140 million over time, a target of 8.5%. $10 million will come from the JP Morgan Infrastructure Fund. The other $20 million will come from the NTGI Aggregate Bond index.
Investment consultant Marquette is assisting with the process.
The pension fund was valued at $1.6 billion at the end of November 2023.
For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!