Colorado PERA Goes with Newton for Equity
April 20, 2009
The $29 billion Colorado Public Employees' Retirement Association has selected Newton Capital Management to oversee a global equity mandate of an undisclosed size.
The London-based firm, which is a subsidiary of BNY Mellon Asset Management, started its U.S. business in 2006.
This mandate win marks the first appointment for the firm by a U.S. state pension fund.
In a statement announcing the news, Helena Morrissey, CEO of Newton, said, “The appointment by Colorado PERA validates the appeal of Newton's global thematic approach to investing and underscores our success in accessing the U.S. marketplace. In addition, it expands our U.S. client base to include public, corporate, and union pension funds, as well as not-for-profit endowment and foundation-type investors.”
According to the plan’s Web site, it invests 15.7% of its assets in international stocks.
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