Create Annotation For Specific Layers in a Layout

[shildebrand]

Does anyone know if there is a way to create annotation from the labels of a specific layer and "store them in the map" like we could do in arcmap?  It looks like you can only convert the labels for everything in the map but not a specific layer.  I would like to just create annotation for a small area and be able to move it around like text in a layout.