U.S. Equity Asset Class

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CalSTRS Loses Global Equities Head

Eileen Okada will retire from her post as director of global equities at the $170 billion California State Teachers' Retirement System (CalSTRS) on Nov. 1. According to the fund's Web site, Okada had been on leave since March 28. She joined CalSTRS 36 years ago as an accountant. In the meantime, the plan's CIO Christopher Ailman will oversee the roughly $100 billion portfolio, which encompasses both U.S. and global equity. EFL Associates has been retained by the Sacramento…

City of Knoxville Creates New Allocations

The $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within…

Texas Plan to Add CIO Role

The $1.7 billion City of Austin Employees' Retirement System (COAERS) will soon hire its first-ever CIO at the plan, said Stephen Edmonds, executive director at the plan. Edmonds explained that the board plans to conduct a search for the new position, however the details and timing of the search have yet to be completely finalized. According to the most recent financial summary on the plan's Web site, COAERS' asset allocation consists of 15.53% non-large-cap domestic stocks,…

Equity Searches Abound in Cincinnati

The $2.6 billion City of Cincinnati Retirement System (CRS) is moving ahead with its search for small-cap value and mid-cap growth equity managers.

Cornerstone Adds Portfolio Manager

Dean Morris has joined large-cap equity manager Cornerstone Investment Partners as a portfolio manager, Todd Harlicka, marketing associate at the firm...

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Bayou Cop Fund Interviews Finalists

The board of the Louisiana Municipal Police Employees' Retirement System (LAMPERS) interviewed finalists in its searches for international small-cap equity, international emerging markets, and domestic large-cap value equity managers, according to the agenda from its June 18-19 meeting. American Century Investment Management, Batterymarch Financial Management, Dimensional Fund Advisors (DFA) and Mondrian Investment Partners were considered for the international small-cap search.

Abbott Picked By Baltimore Employee Plan

Private equity manager Abbott Capital Management has been hired by the $1.4 billion Baltimore Employees' Retirement System. The firm will receive a $40 million commitment to be invested in the Abbott Capital Private Equity Fund VI. An agenda for a June 18 City of Baltimore board of estimates meeting states that the plan has previously invested in two funds with the manager.

Norwood RS Hunts For Equity Manager

The Town of Norwood Contributory Retirement System is looking to hire a large-cap growth domestic equity manager to oversee roughly $10 million. Debra Lorenzo, administrator at the Massachusetts plan, referred all questions regarding the search to Susan Rawley, the plan's consultant with Mercer.

Large-Cap on The Way for Watertown R.S.

The Watertown Retirement System has placed $16 million up for grabs to be managed in a large-cap core equity strategy. Barbara Sheehan, administrator of the Massachusetts fund, referred all questions to Carol Tam, the plan's consultant with Segal Advisors who explained that the board is 'looking for an active large-cap manager to potentially replace its existing passive manager.'

LACERA Kicks Off Smid-Cap Search

The Los Angeles County Employees' Retirement Association (LACERA) is looking to make new hires in the active domestic smid-cap core equity arena, said Lisa Mazzocco, CIO with the $42 billion plan. She added that the search comes as a result of recent manager terminations at the plan, but declined to name those firms. However, earlier in the month the board considered terminating Mazama Capital Management from a U.S. equity mandate (See IMW, 6/2/08). According to published reports, the firm has been removed from the account.

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