Ohio SERS Adds to Manager Roster
April 2, 2009
Manning & Napier Advisors, Neuberger Berman Group and Oaktree Capital Management have been added to the manager roster at the School Employees' Retirement System of Ohio (SERS).
Tim Barbour, spokesman for the $7.9 billion plan , said the board hired Manning & Napier and Neuberger Berman to manage up to $150 million each in large-cap domestic equity mandates, according to the highlights of the plan's March meeting.
Barbour said that two more large-cap equity managers would present to the board at this months meeting. He declined to identity the two firms, however.
An investment of up to $40 million in Oaktree's Principal Fund V was also approved.
Barbour said that SERS' investment staff conducted both searches internally.
According to SERS' Web site, the plan's target allocations for U.S. equity and private equity are 29% and 7%, respectively.
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